Bitcoin (CRYPTO: BTC) has fallen about 26% over the past month, yet on-chain data show a steady rise in large wallet holders, a pattern historically associated with accumulation phases.

Large Wallets Near Record Levels

Bitcoin is approaching 20,000 wallets holding at least 100 BTC, equivalent to roughly $6.78 million per wallet at current prices, Santiment data shows.

These addresses are typically linked to high-net-worth individuals, funds, long-term holders or institutions.

The increase in 100+ BTC wallets during a price decline is generally considered a bullish signal, suggesting larger players are accumulating as retail participants distribute.

However, the overall percentage of supply…

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