The number of Bitcoin wallets with a balance is closing in on an all-time high

The number of Bitcoin wallets with a balance is closing in on an all-time high, showing steady activity as Bitcoin's price stabilizes.

The number of Bitcoin wallets with a balance is closing in on an all-time high, indicating persistent activity as BTC’s price stabilizes. Santiment data shows 54.71 million non-empty wallets, just 0.018% below the record of 54.72 million reached in January.

Bitcoin touched a low of $77,000 this week, the lowest since November 2024, before recovering to stay above the key $84,000 mark. After stabilizing at $82,300, Bitcoin demonstrates an additional $1,000 increase within the preceding day.

The rise in non-empty wallets signals sustained user activity, with more people holding Bitcoin rather than selling. The increase comes from both new adoption and large holders spreading funds across multiple wallets, according to Santiment. Despite recent market swings, wallet numbers continue to climb.

Does Higher Wallet Activity Signal Strength or Weakness?

While more active wallets suggest growing interest, some analysts say it could also indicate weaker market conditions if retail investors are increasing while large holders remain inactive.

One trader on X, formerly Twitter, raised this concern, and Santiment responded by stating that retail accumulation can be negative if major investors are not adding to their positions.

Data from IntoTheBlock confirms large holders have not changed their positions, with the 30-day whale activity indicator at +0.00%, meaning whales have neither increased nor reduced their holdings.

Mid-sized investors have grown their positions by 1.35%, while retail investors have slightly lowered their exposure by 0.08%, showing minor shifts in trader behavior.

Large Bitcoin Transactions on the Rise

Although whales are holding steady, big-money transactions have surged. IntoTheBlock reports a 162% jump in large holder inflows over the past week, showing increased movement among major investors.

Over the past month, large holder inflows have risen 2,639%, suggesting strong accumulation from high-net-worth players. The 90-day trend also shows a 1,872% increase, reinforcing sustained interest from major market participants.

Bitcoin Faces Key Resistance Between $86K and $90K

Bitcoin’s Realized Price, which tracks the average cost basis of investors, is a critical measure of support and resistance. Short-term holders (STH)—those who have held BTC for less than six months—are especially sensitive to price changes, making their Realized Price a key zone to watch.

Right now, Bitcoin is testing the $83,000 resistance level, with the 3–6 month STH Realized Price at $86,100, a zone where selling pressure may increase. This group holds the largest share of short-term Realized Cap, which could lead to profit-taking at this level.

On the downside, long-term holders (6–12 months) have an average price of $63,700, reinforcing $64,000 as a strong support area based on previous trading volume.

As Bitcoin moves toward $86K–$90K, short-term holders selling at break-even could add volatility. Whether buyers can absorb this pressure will determine the next major move in Bitcoin’s price.