New data from market intelligence firm Santiment shows that one key segment of all Bitcoin (BTC) holders is suddenly declining.
In a new update, the crypto analytics platform says that the number of crypto whales holding at least 100 Bitcoin decreased in the past month – even as the number of network wallets has grown overall.
While those holding less than 100 Bitcoin surged in the last month, those holding 100 or more BTC declined by six. According to Santiment, the growth or decline of those holding 100 or more Bitcoin has a large influence on the price action of the flagship crypto asset.
“Note that the main growth has been coming from the small wallet tiers. The number of wallets with less than 0.1 BTC has grown by 37,390 during this time, while the number of wallets containing between 0.1 and 100 BTC has grown by 12,754. The largest wallets – key stakeholders with at least 100 BTC – have actually declined by six.
As you may guess, the behavior of these wallets (with the highest amounts of capital) typically dictates the price. So, despite the network continuing to blossom, the optimal setup for a 2025 bullish breakout occurs when all three of these tiers are rising simultaneously – or at least seeing the over 100 BTC tier begin to surge.”
Bitcoin is trading for $86,751 at time of writing, down 3.3% in the last 24 hours.
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Follow us on X, Facebook and Telegram
Featured Image: Shutterstock/vectorpouch/Konstantin Faraktinov
Read the full article here
Follow us on Google News to get the latest Updates
