Bitcoin Wallets Holding $100 Nears Record High
On-chain data shows that Bitcoin wallets holding at least $100 are approaching record levels.
Binance reports that the number of wallet addresses with $100 or more has risen from 24 million in January 2024 to nearly 30 million in 2025, marking a 25% year-on-year increase.
“This trend reflects an influx of new participants into the market, signaling renewed interest and optimism for the cryptocurrency,” Binance stated in a blog post.
Historically, spikes in the number of wallets holding $100 or more have aligned with bull runs, such as those in late 2017 and 2021.
A similar increase was noted in mid-2024, coinciding with Bitcoin surpassing the $100,000 mark.
The approval of spot Bitcoin ETFs, led by BlackRock’s iShares Bitcoin Trust (IBIT), significantly boosted institutional adoption.
By late 2024, ETF holdings had doubled to 1.25 million BTC, with IBIT managing over $50 billion in assets.
The Bitcoin network's security has also reached new heights, with the hashrate exceeding 800 exahashes per second (EH/s) in January 2025, a 33% rise from 600 EH/s the previous year.
“Bitcoin’s hashrate has recently reached an all-time high, surpassing the combined computing power of tech giants such as Amazon AWS, Google Cloud, and Microsoft Azure, which together contribute less than 1% of Bitcoin’s total network capacity,” Binance noted.
Hashrate represents the computing power used to secure and process Bitcoin transactions.
A higher hashrate enhances the network’s security, makes it more resistant to attacks, and reflects robust miner activity and confidence in Bitcoin's future.
Market sentiment remains positive, with 86% of circulating Bitcoin considered “in profit,” according to CryptoQuant.
Accumulator addresses, which consistently buy Bitcoin without selling, have reached a record monthly pace of 495,000 BTC.
Ki Young Ju, CEO of CryptoQuant, highlighted a divergence in Bitcoin holder behavior. On X, he wrote:
“Bitcoin retail investors with [less than] 1 BTC are selling, while the others with [greater than or equal to] 1 BTC are buying.”
Ju believes the market is in the late stage of the Bitcoin bull cycle, specifically the “early distribution phase,” where new retail investors are entering the market while institutional interest stays strong.
He described the typical distribution process, where whales offload their holdings to retail investors.
However, Ju noted a shift in this cycle, with “OG retail investors and whales” transferring Bitcoin to new retail participants and institutional players, who often hold “paper Bitcoin” through ETFs and corporate stocks.
He predicts the final distribution phase, driven by retail investors, won’t take place until mid-year or possibly into the next year.
Sources:
https://cointelegraph.com/news/bitcoin-wallets-holding-100-near-all-time-highs-binance
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