Crypto analytics platform Santiment shared on social media platform X on Feb. 26 that bitcoin’s growing number of wallets holding 100 BTC or more is approaching 20,000 addresses and may signal accumulation behavior, according to the firm. Santiment stated:

“ Bitcoin is about to hit a milestone, surpassing 20,000 wallets with at least 100 BTC. When this number rises during or after price declines (like it has been), it can be considered a bullish sign.”

“If the number of 100+ BTC wallets is growing, that suggests distribution across more large holders rather than a small group controlling everything,” Santiment noted. The platform emphasized that historically, rising whale wallet counts have occasionally been observed during accumulation stages that later supported price rebounds. This pattern has at times been associated with medium- to long-term upward price movements, particularly when larger entities absorb supply from retail traders during weaker market conditions, according to Santiment.

Amount of wallets with 100+ bitcoin. Source: Santiment.

At the same time, Santiment clarified that supply concentration among key stakeholders has not yet significantly expanded, which may explain why bitcoin prices remain subdued despite the increase in large wallets. The firm detailed:

“The growth in wallet numbers just needs to match the growth in overall supply held, with retail slowly selling off their coins to the larger wallets.”

Based on historical cycles, such redistribution phases have, in some instances, formed market bottoms before broader recoveries emerge, Santiment’s data suggests. While the data does not guarantee immediate upside, the predictive signal from expanding whale participation may indicate a strengthening accumulation structure that could support future price appreciation if sustained.

• Why does the rise in 100 BTC wallets matter for investors?
  Growing large-wallet counts are viewed by Santiment as signaling accumulation phases that have historically preceded price rebounds.
• Does more whale participation guarantee a bitcoin rally?
  No, but sustained accumulation has at times aligned with medium- to long-term upward trends.
• What does distribution across more large holders indicate?
  It suggests supply is spreading among whales rather than concentrating in a few hands, supporting structural stability.
• Why are bitcoin prices still subdued despite wallet growth?
  Overall supply held by large wallets has not yet expanded enough to confirm a full accumulation-driven breakout.

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