Bitcoin’s price dropped sharply this week, briefly falling to $76,000. While some worry the price might fall further, large investors and institutions are continuing to buy Bitcoin.
New data from Santiment shows there are now 20,229 Bitcoin wallets holding 100 BTC or more. This is an increase of 11.2% from the 18,191 wallets that held that amount a year ago.
Long-Term Bitcoin Confidence
Bitcoin wallets with this much value—currently around $7.7 million or more—typically belong to significant investors like institutions, large-scale holders known as ‘whales,’ and individuals who plan to hold their Bitcoin for a long time.
As a crypto investor, I’ve been watching something interesting – the number of large wallets holding significant amounts of crypto has been steadily growing, even with all the ups and downs and shifting feelings we’ve seen in the market this past year. What’s really notable is this growth happened *while* a lot of everyday traders were feeling hesitant, scared, or just plain frustrated with the market. It suggests someone with deep pockets is consistently accumulating.
An increasing number of large Bitcoin holders is often seen as a positive signal, suggesting that major investors still believe in Bitcoin’s future success, limited supply, and overall importance in the market, even when prices are unstable.
As I’ve been monitoring the Bitcoin market, the increasing stress is leading many to believe a rapid recovery – a V-shaped one – is unlikely. My analysis of CryptoQuant’s SOAB ratio shows it’s spiked, suggesting long-term Bitcoin holders are selling off significantly. What’s concerning is that I’m also seeing signs of panic selling from short-term investors, adding to the downward pressure.
According to Santiment, social media is showing increasing fear and negativity among everyday traders. For the first time since April 21st, there are more negative comments about Bitcoin than positive ones. These smaller investors are reacting significantly to the recent price drops and many believe the market will continue to fall.
Even though many investors are currently feeling pessimistic, the firm believes that crypto markets often perform unexpectedly. This increase in negative sentiment might actually create an opportunity for prices to bounce back soon.
Regulatory Tailwind
Dessislava Ianeva, a researcher at Nexo, thinks the CLARITY Act moving forward in the Senate could be a key factor in starting the next big price increase for Bitcoin. The bill recently passed through a Senate committee, raising hopes for clear rules for cryptocurrencies in the U.S.
Following the bill’s approval, Bitcoin quickly rose above $82,000, and the likelihood of the bill becoming law in 2026 also increased, according to Ianeva. She noted this situation is similar to a previous surge related to the GENIUS Act, and believes a vote on the CLARITY Act in the Senate could drive Bitcoin to a new record high.
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2026-05-19 19:34