The number of wallets holding 100+ $BTC is approaching 20,000, according to on-chain data highlighted by Santiment. Historically, rising whale wallet counts during price pullbacks have been interpreted as accumulation.

But let’s unpack this carefully.

Why 100+ BTC wallets matter

A wallet holding 100 BTC represents serious capital exposure. At current prices, that’s multi-million-dollar positioning. When the count of these wallets rises, it suggests:

Larger entities are increasing holdings

Existing holders are consolidating

Distribution may be slowing

Historically, sustained growth in large wallet counts during downturns has often preceded medium-term recoveries.

Not immediately. But structurally.

Important nuance

Wallet count ≠ unique individuals.

One entity can control multiple wallets. Exchanges also hold large balances across segmented addresses. So the metric is directional — not definitive proof of “smart money” behavior.

Still, trends matter.

If the number of 100+ BTC wallets is rising while price is falling, that suggests supply is moving into stronger hands rather than being broadly distributed.

Why this is viewed as bullish

Markets typically bottom when:

Retail confidence is low

Leverage has been flushed

Larger holders quietly accumulate

If whales are indeed adding during weakness, it indicates long-term conviction despite short-term volatility.

It also tightens circulating supply over time.

What to watch next

Does the wallet count continue rising if price drops further?

Are coins moving from exchanges to cold storage?

Is long-term holder supply increasing?

Are exchange balances declining?

Whale accumulation without exchange outflows is less convincing.

Bigger picture

On-chain metrics often shift before sentiment does.

But accumulation phases can last weeks or months before price reacts meaningfully.

The key question isn’t whether whales are buying.

It’s whether broader liquidity conditions eventually align with that positioning.

If you’d like, I can compare current whale wallet growth to previous accumulation phases before major rallies.

#BlockAILayoffs #JaneStreet10AMDump #MarketRebound #BTC