Whale Wallet Count Nears Critical Threshold
According to recent data from Santiment, an established crypto analytics platform, the number of independent wallets holding 100+ Bitcoin reached 19,993 by Thursday. This nears the significant 20,000 milestone, with each wallet valued at approximately $6.71 million at current prices.
Distribution Reduces Market Manipulation Risks
The increasing number of large holders indicates a healthier distribution pattern, with assets spreading across more participants rather than concentrated among few whales. This structural improvement reduces manipulation vulnerability and represents a strong bullish indicator.
Stable Supply Share Reveals Selling Pressure
Despite growing wallet counts, the total supply held by these addresses remains unchanged, suggesting ongoing selling activity from long-term holders. This persistent distribution pressure contributes significantly to current price resistance.
Technical Requirements for Uptrend
Bitcoin currently trades about 47% below its all-time high of $126,100. Analyst Poppe emphasizes that establishing higher lows will be crucial for confirming sustainable upward momentum.