Last updated on March 5th, 2026 at 10:07 am
Bitcoin is closing in on a symbolic onchain milestone that could reshape how investors interpret the current market cycle. According to crypto analytics platform Santiment, the number of wallets holding at least 100 BTC has climbed to 19,993, just shy of the 20,000 mark.
At current prices, each of those wallets holds roughly $6.7 million in Bitcoin. If the pace continues, the threshold could be crossed within days.
📈 Bitcoin is about to hit a milestone, surpassing 20,000 wallets with at least 100 $BTC. A wallet with 100 or more Bitcoin is currently worth a minimum of $6.78M, and they’re obviously going to be largely owned from very high net worth individuals, funds, long term holders, or… pic.twitter.com/ayzB0fmguC
— Santiment (@santimentfeed) February 26, 2026
Distribution over domination
Santiment argues that a growing number of 100+ BTC wallets suggests distribution among large holders rather than tighter consolidation by a shrinking elite group of whales.
“If the number of 100+ BTC wallets is growing, that suggests distribution across more large holders rather than a small group controlling everything,”
the firm noted. In practical terms, that could reduce fears that a handful of dominant players can drastically swing the market with coordinated moves.
However, the data reveals nuance. While more wallets are reaching the 100 BTC level, the overall percentage of Bitcoin supply controlled by this cohort has not meaningfully changed. This implies that some long-term holders may be trimming positions even as new entities accumulate enough to enter the 100 BTC club.
Santiment describes this dynamic as “less extreme consolidation at the very top.”
Are Bitcoin OGs finally done selling?
Bitcoin remains about 47% below its October all-time high of $126,100 and was recently trading near $67,000, according to CoinMarketCap data.
Selling pressure from early adopters has been widely blamed for the prolonged pullback. Yet analyst Will Clemente recently suggested that Bitcoin OGs may be “done selling aggressively for now.”
Meanwhile, Michaël van de Poppe of MN Trading Capital says Bitcoin must establish a higher low to confirm renewed upward momentum. “So far, so good for Bitcoin,” van de Poppe said
According to a report from financial services firm River, 2025 has marked a breakout year for Bitcoin’s institutional and sovereign uptake, even as the asset’s price action remains subdued.
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