Santiment: Bitcoin Nearing 20,000 Unique 100 BTC Wallets Target
According to Santiment, Bitcoin is about to reach the number of 20,000 unique wallets holding at least 100 BTC. As of Thursday, 19,993 wallets have surpassed this threshold, each worth approximately 6.71 million dollars. The platform predicts this milestone will occur on Friday. The increase signals a wider distribution of Bitcoin among large holders, reducing the risk of a few whales excessively influencing the price, and is viewed as a healthy market dynamic.
Bitcoin is down 24.59% over the past 30 days. Source: CoinMarketCap
Bitcoin Price at 67,312 Dollars, Support and Resistance Levels
Bitcoin is currently trading at 67.312,60 dollars, down 1.34% in 24 hours. It has declined 47% from its October peak of 126.100 dollars, with a 24.59% loss over the last 30 days (CoinMarketCap). RSI at 41,43 in the neutral zone, EMA 20 at 69.036 dollars above. Strong supports: 64.366 dollars (72/100 score, 4.61% distance) and 60.000 dollars (61/100). Resistances: 68.011 dollars (85/100, 0.79%) and 70.563 dollars (71/100). Click for detailed BTC analysis.
Institutional Movements: GD Culture Group 7,500 BTC Sale
In recent news, GD Culture Group (GDC) plans to sell from its 7,500 BTC reserve to finance its share buyback program. This reflects long-term holder sales. Santiment says the increase in large wallets after the price drop could be a bull signal, but with the total supply percentage stable, some OGs are selling. Analyst Will Clemente notes that Bitcoin OGs have stopped aggressive selling, while Michael van de Poppe states the uptrend will continue from a higher low.
BTC Futures Recovery and UAE Bank Developments
BTC PERP rose 8.40% from the 62.401 dollar low, pulling the weekly candle positive. BTC futures recovering. The United Arab Emirates’ second largest bank with 272 billion dollars in assets is showing interest in Bitcoin, which could accelerate institutional adoption. These developments support the wide distribution milestone, reinforcing market health. Monitor trends linked to ALT coin analyses.
Source: https://en.coinotag.com/bitcoin-reaches-20000-100-btc-wallet-milestone
