Bitcoin’s 100 BTC club edges toward 20K wallets in a ‘bullish sign’

The number of wallets holding 100 BTC is close to 20,000, a milestone some analysts view as a sign of improving holder distribution.

Bitcoin is on the verge of surpassing 20,000 wallets with at least 100 Bitcoin, an indicator that could signal healthy market dynamics, according to crypto analytics platform Santiment.

As of Thursday, there were 19,993 unique wallets holding 100 BTC or more, worth roughly $6.71 million per wallet at the time of publication, Santiment said in an X post. Santiment anticipates that the milestone could be reached by Friday.

“If the number of 100+ BTC wallets is growing, that suggests distribution across more large holders rather than a small group controlling everything,” Santiment said. It is an important signal for Bitcoiners, as it reduces the perceived risk that a small number of whales can significantly swing prices.

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