Bitcoin (CRYPTO: BTC) has fallen about 26% over the past month, yet on-chain data show a steady rise in large wallet holders, a pattern historically associated with accumulation phases.
Large Wallets Near Record Levels
Bitcoin is approaching 20,000 wallets holding at least 100 BTC, equivalent to roughly $6.78 million per wallet at current prices, Santiment data shows.
These addresses are typically linked to high-net-worth individuals, funds, long-term holders or institutions.
The increase in 100+ BTC wallets during a price decline is generally considered a bullish signal, suggesting larger players are accumulating as …