Key Points:
- Bitcoin wallets with at least $100 reach nearly 30 million, up 25% year-over-year.
- Bitcoin hashrate hits an all-time high of 800 EH/s, boosting network security.
- 86% of Bitcoin holders are in profit as retail and institutional investors drive growth.
Wallets Holding $100 Bitcoin Near All-Time Highs
Bitcoin wallets containing at least $100 are on the rise, nearing record levels, according to on-chain data from Binance. The number of such wallets surged from 24 million in January 2024 to nearly 30 million by 2025, marking a significant 25% increase.
“This trend reflects an influx of new participants into the market, signaling renewed interest and optimism for the cryptocurrency,” Binance noted in a recent blog post.
Historically, spikes in wallets holding $100 or more have coincided with Bitcoin bull runs, such as those in late 2017, 2021, and mid-2024, when Bitcoin crossed the $100,000 mark.
Additionally, the approval of spot Bitcoin ETFs in 2024, spearheaded by BlackRock’s iShares Bitcoin Trust (IBIT), further fueled institutional interest. ETF holdings doubled to 1.25 million BTC, with IBIT alone managing over $50 billion in assets.
Bitcoin Hashrate Reaches Unprecedented Levels
The Bitcoin network’s security is stronger than ever, as its hashrate hit a record 800 exahashes per second (EH/s) in January 2025. This represents a 33% increase from 600 EH/s a year earlier.
Binance highlighted the scale of this achievement in its blog:
“Bitcoin’s hashrate recently surpassed the combined computing power of Amazon AWS, Google Cloud, and Microsoft Azure, which together contribute less than 1% of Bitcoin’s total network capacity.”
A higher hashrate boosts the network’s security by making it harder to attack, reflecting strong miner activity and confidence in Bitcoin’s long-term value.
Market Sentiment: Strong Profits and Record Accumulation
Bitcoin market sentiment remains robust, with 86% of coins in circulation currently “in profit,” according to data from CryptoQuant. Accumulator wallets — those consistently buying without selling — are adding Bitcoin at a record pace of 495,000 BTC monthly.
CryptoQuant CEO Ki Young Ju observed a divergence in investor behavior. On the platform X, he noted:
“Retail investors holding less than 1 BTC are selling, while those with 1 BTC or more are buying.”
Ju suggested that the market is in the late stages of a Bitcoin bull cycle, entering the “early distribution phase.” Institutional players and long-time retail investors are transferring Bitcoin to new retail participants, while ETFs and corporate stocks hold “paper Bitcoin.”
However, Ju predicted the final phase, dominated by retail investors, may not arrive until mid-2025 or later.
Summary
Bitcoin’s surge in wallet activity, record-breaking hashrate, and strong market sentiment signal an evolving market dynamic driven by renewed retail and institutional interest. As Bitcoin adoption widens, the next phases of its market cycle will be closely watched by investors.
