The number of addresses holding more than 10 Bitcoins rebounded from the first quarter decline

The number of addresses holding at least 10 Bitcoins declined in 2024. The number of such addresses stood at about 155,500 at the start of the year, declining in the first quarter to a low of about 152,600 in late March. This decline ran counter to Bitcoin’s price action over the same period, reflecting profit-taking by smart money. However, the number of addresses holding more than 10 BTC reversed in August, rising back to 153,500 as Bitcoin prices stabilized around $60,000. Historically, the number of addresses holding at least 10 BTC has trended upward, especially since 2015 as Bitcoin prices surged from below $500 to over $60,000 in 2021. This long-term growth highlights increasing accumulation by large holders, often seen as a signal of confidence in Bitcoin’s value proposition. However, the decline in mid-2024 suggests that Bitcoin will be distributed or redistributed in the short term as the market adjusts after the “unblocking”.