What's Happening
The number of Bitcoin wallets holding at least 100 BTC is approaching 20,000, according to Santiment. This milestone is seen as a bullish indicator amid ongoing market consolidation.
Market Impact
The increase in large Bitcoin holders suggests growing confidence among investors, potentially driving up demand and prices. This trend may influence broader cryptocurrency market sentiment.
Broader Implications
The accumulation of Bitcoin by large holders underscores the asset's appeal as a store of value, influencing regulatory discussions and adoption trends globally.