Bitcoin Down 47% — But Large Wallet Growth Hints at Confidence

[cryptohog]

Despite the encouraging wallet milestone, Bitcoin remains under pressure. The asset is currently trading around $67,000, down roughly 47% from its October all-time high of $126,100, according to CoinMarketCap. Over the past 30 days alone, Bitcoin has fallen more than 24%, underscoring continued market weakness.

However, Santiment notes that rising numbers of 100+ BTC wallets during a downturn can be interpreted as a bullish signal. It suggests that deep-pocketed investors may be accumulating into weakness. That said, the overall percentage of supply held by this group hasn’t increased, implying that while new wallets are crossing the 100 BTC threshold, some long-term holders may still be trimming positions — helping explain why prices remain suppressed.

[cryptoenthusiast]

supply percentage not increasing so basically we’re playing musical chairs with millions of dollars