Fewer Bitcoin Whales Hold More BTC Despite Wallet Drop

2025-12-24 23:41:17

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Large BTC holders dropped 2.2% in wallets but added 136,670 BTC, showing strategic consolidation.
Analysts clash: some predict $70K potential, others warn BTC stays trapped in a sideways range.
Reduced wallets may tighten supply, increasing volatility, while long-term holders maintain confidence.

Bitcoin’s major investors are cautious as the number of wallets has decreased, although the amount of money in the wallets has shown significant growth. According to Santiment’s data, the number of wallets that hold more than 1 BTC has shown a 2.2% decrease since March 3, 2025, from 996,320 to 974,380 as of December 22.

However, despite the reduction in the number of wallets, the whales cumulatively added 136,670 BTC in the same period. Therefore, whales seem to be accumulating instead of leaving the market.

The large wallets throughout 2025 have shown fluctuations in their numbers. The accumulation has been followed by some sell-off action, which has been a reaction to Bitcoin prices. Additionally, it appears that some of these whales may be spreading their investments into other assets.

Thus, the market sees a slight tightening of supply at particular levels of prices. But the moderate reduction in wallet numbers indicates a commitment to holding considerable portions of Bitcoin by long-term investors, indicating a degree of cautious optimism in terms of its overall path.

Market Sentiment and Analyst Perspectives

Crypto analysts remain divided on near-term BTC trends. Analyst Crypto | Stocks | Freedom compared current conditions with December 2021, noting a potential move toward $70,000. “I applied the fractal from that sell-off to today’s price, and it points to a potential move toward around $70,000,” the analyst said, emphasizing that market patterns could repeat under similar conditions.

However, analyst Guru offered a contrasting view. He argued that Bitcoin remains confined to its current range. “The market is screaming ‘range till yearly close’ and most of you are too high on hopium to hear it,” Guru tweeted. He warned that traders chasing large gains risk losses if they ignore the persistent sideways price action.

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