Bitcoin wallets add 81,000 coins as price nears $100K

Data from crypto analytics firm Santiment indicates a divergence in Bitcoin (CRYPTO:BTC) holding patterns as the asset trades near $96,000.

Between March 26 and early May, large Bitcoin holders—those with wallets containing between 10 and 10,000 BTC—accumulated approximately 81,338 BTC, marking a 0.61% increase in their total holdings.

Santiment noted on May 6 that this accumulation by key stakeholders suggests confidence in a potential price rise toward the $100,000 level.

“At the same time, smaller wallets holding less than 0.1 BTC sold around 290 BTC over the same period,” Santiment added, pointing to what may be panic selling or disengagement among retail investors.

This contrasting behavior between larger holders and smaller investors is often viewed as a signal that Bitcoin’s price may be preparing for an upward breakout after a period of consolidation.

Since March 26, Bitcoin’s price has fluctuated between roughly $76,273 and $97,210, according to CoinMarketCap.

In parallel, spot Bitcoin ETFs in the United States have seen inflows totaling $4.41 billion since March 26, based on data from Farside Investors.

Bitcoin’s dominance in the overall cryptocurrency market also remains elevated, reaching 65% on May 6—the highest level since January 2021, according to TradingView.

CoinMarketCap’s altcoin season index continues to favor Bitcoin, indicating that market interest is concentrated on the leading cryptocurrency rather than alternative coins.

Analysts from Bitfinex have emphasised the importance of Bitcoin maintaining levels above $95,000 to avoid a deeper correction and to position itself for a retest of its all-time high.

“Bitcoin’s key stakeholders are mostly moving in the right direction if you’re rooting for $100K BTC in the near future,” Santiment concluded.

At the time of reporting, the Bitcoin (BTC) price was $96,838.06.