Non-Empty Bitcoin Wallets Surge to 54.72M, Just 0.018% from ATH: Is This a Bullish Signal?

Amid the ongoing Bitcoin price recovery, the number of non-empty BTC wallets is approaching its all-time high.

Bitcoin’s price has shown resilience after an early-week downturn that saw it dip below $77,000 for the first time since November 2024. The cryptocurrency rebounded in the last 48 hours, briefly touching $84,000 before settling around $82,300 on Wednesday. 

Over the past 24 hours, Bitcoin gained approximately $1,000, trading at $83,282 during this press. Bitcoin’s recent price action aligns with a surge in non-empty wallets, signaling sustained interest in the asset.

Data from Santiment shows that Bitcoin wallets holding more than zero BTC have reached 54.71 million. This figure is only 0.018% away from the all-time high of 54.72 million recorded on January 19, 2025. 

Santiment attributes part of this trend to network growth and large holders splitting their wallets into smaller ones. Per Santiment, wallet expansion remains evident despite nearly eight weeks of heightened volatility following Bitcoin’s all-time high of $109,000.

The trend extends beyond Bitcoin, as Ethereum, XRP, and Tether (USDT) wallets are also rising.

Is Rising Bitcoin Wallet Bullish? 

In response to Santiment’s update, a community member raised that a rising Bitcoin wallet is typically a bearish signal. The analyst firm confirmed the sentiment and added that it can be bearish if retail holdings surge while whales and sharks decline. Currently, retail is increasing, but whales and sharks remain flat.

Yes. Particularly when retail holders are rising rapidly, and whales/sharks are moving down.

Right now, retail is rising and whales/sharks are flat.

— Santiment (@santimentfeed) March 13, 2025

Data from IntoTheBlock confirms that large Bitcoin holders have neither increased nor decreased their holdings. The Whales 30-Day Change indicator stands at +0.00%, reflecting no net accumulation or distribution.

Meanwhile, mid-sized investors have increased their holdings by 1.35% over the past 30 days. Retail investors, however, have slightly reduced their exposure, with a 0.08% decrease in holdings.

The minor decline in retail ownership suggests slight selling pressure or fund reallocation among smaller investors.

Large Holder Inflows Show Notable Growth

While whales have maintained their positions, large holder inflows have surged significantly. Further IntoTheBlock data reveals that the seven-day inflow change is up 162%, indicating a sharp rise in substantial Bitcoin transactions. 

Over the past 30 days, large holder inflows have jumped 2,639%, suggesting increased accumulation among major market participants. Ultimately, the 90-day inflow change further reinforces this trend, recording a 1,872% increase.