- Wallets holding ≥100 BTC jumped 0.47% (91 wallets) since Nov 11 despite brutal price drop.
- Retail-sized wallets (≤1 BTC) have been shrinking in number at the fastest pace this cycle.
- weak hands exit, strong hands accumulate ahead of expected recovery.
On-chain data from Santiment reveals a textbook late-bear phase shift: the number of Bitcoin wallets holding at least 100 BTC has climbed 0.47% (+91 addresses) since November 11, even as BTC price bled from ~$94K to sub-$79K levels. This quiet whale accumulation is happening against the backdrop of the fastest contraction in small retail wallets seen all cycle.The chart tells the story clearly. Every major drawdown in 2024–2025 has been accompanied by a spike in 100+ BTC addresses—December 2024, March 2025, July 2025, and now November. Each previous surge marked the low-risk entry zone for large players who continued stacking while the broader market panicked.
Meanwhile, retail is folding. Wallets holding 0.1–1 BTC and <0.1 BTC cohorts are shrinking at the sharpest rate since the 2022 bear market bottom. This isn’t normal profit-taking; it’s forced selling and despair. The same pattern played out in late 2021–early 2022 when small holders vanished en masse right before the final leg down and subsequent reversal.
History doesn’t repeat, but it rhymes. When whale counts rise and shrimp counts collapse during a steep correction, the bear market is usually in its painful final chapter. The current 91-wallet increase may look tiny in percentage terms, but in absolute terms it represents tens of thousands of BTC quietly moving off exchanges and weak hands into cold storage held by those who have seen this movie before.
Glassnode and CryptoQuant exchange flow metrics support the narrative: sustained negative netflows, record exchange reserve depletion, and rising illiquid supply. The smart money isn’t waiting for “confirmation”—they’re front-running it.
Bottom line: Bitcoin is doing what it always does in the late stages of a correction—shaking out the tourists while sharks load the boat. If the historical playbook holds, the current retail capitulation wave will exhaust itself soon, leaving significantly cleaner hands for the next impulsive move higher. Painful for new entrants, profitable for the patient.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
