Bitcoin (BTC) Wallets Holding at Least $100 Surge 25% to Reach 30 Million

The surge in wallets holding $100 or more typically coincides with bull runs. Similar increases were seen during Bitcoin's price surges in 2017 and 2021.

Bitcoin wallets with a balance of at least $100 have seen a substantial increase, reaching nearly 30 million, as reported by Binance.

This marks a 25% surge compared to January 2024, when the count stood at 24 million. The rising number of wallets indicates growing interest and optimism in the cryptocurrency market.

New Entrants Boosting Bitcoin Wallets

Surges in wallets holding $100 or more have typically coincided with bull markets. Similar increases were observed during Bitcoin's price rallies in 2017 and 2021.

A similar trend emerged in mid-2024 as Bitcoin surpassed $100,000. The approval of spot Bitcoin ETFs, such as BlackRock's iShares Bitcoin Trust (IBIT), played a key role in boosting institutional adoption, contributing to the rise in wallets holding Bitcoin.

Bitcoin Hashrate at Record Levels

Highlighting the strength of Bitcoin's network security, the hashrate reached a record high of 800 exahashes per second (EH/s) in January 2025, marking a 33% increase from the previous year. This milestone indicates strong miner activity and optimism regarding Bitcoin's future prospects.

Market Sentiment Remains Buoyant

According to CryptoQuant data, 86% of Bitcoin in circulation is currently in profit. Accumulator addresses are acquiring Bitcoin at a record rate, with 495,000 BTC being purchased each month.

While some retail investors are observed to be selling, large holders and institutional entities continue to buy, indicating the overall strength in Bitcoin's market.

Bitcoin's Distribution Phase

Ki Young Ju, CEO of CryptoQuant, suggests that the current Bitcoin cycle is in the "early distribution phase," with retail investors entering the market amid strong institutional interest. He anticipates the final phase of distribution, driven primarily by retail investors, to unfold by mid-year or next year.