Bitcoin Price Surges to $99,000: Analysis of Wallet Distribution Signals Potential Bull Market Ahead

According to recent data from Santiment, the cryptocurrency landscape has witnessed a robust recovery leading into the holiday season. As of December 25th, the price of Bitcoin surged to an impressive $99,000. Current statistics on Bitcoin wallet address distribution reveal a significant concentration of holders: approximately 50.17 million addresses hold between 0-0.1 BTC, while 4.31 million addresses contain between 0.1-10 BTC. Notably, there are around 150.13 thousand addresses holding between 10-1,000 BTC, and 2,050 addresses with holdings exceeding 1,000 BTC.

This distribution analysis suggests that the persistent growth in the number of large holders and whale wallets supports a bullish sentiment. If this accumulation trend continues through 2024, the likelihood of sustained upward momentum in the market appears promising, indicating potential for further price appreciation.