Wallet addresses holding at least $100 in Bitcoin approach all-time highs: report
Wallet addresses holding at least $100 in Bitcoin are nearing all-time highs according to a recent report from Binance.
On-chain data shows major surge in small bitcoin (BTC) holders, showing an increase in renewed interest and optimism for BTC. This retail growth parallels institutional adoption driven by BTC ETFs, which has seen holdings double from 650,000 BTC to over 1,250,000 BTC throughout 2024.
The expanding retail presence comes as BTC shows strong incumbent behavior, with over 50% of BTC remaining impatient for over two years.
Market metrics support this retail momentum, with 86% of BTC currently showing profits, suggesting widespread positive returns across portfolio sizes. Accumulation rates have accelerated, with crypto data showing a monthly expansion of 228,000 BTC. However, accumulation addresses are reaching record acquisition rates of 495,000 BTC per month.
Crypto data also revealed that large investors are driving bitcoin price gains since the US election. According to their data, Holdings went from 16.2 million to 16.4 million BTC. However, small investors reduced theirs from 1.75 million to 1.69 million.
The institutional sector has been changed by the launches of ETFs, notably BlackRock’s Ishares Bitcoin Trust (IBIT). The ETF accumulated more than $50 billion in assets within 11 months, marking the launch of the most successful ETF in history among BlackRock’s global offerings.
Technical indicators show that the MVRV Z-score remains below levels typically associated with market highs. The Crypto Fear and Greed Index maintains healthy bullish sentiment, with a 30-day simple moving average at 75% according to the Binance report.
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