Bitcoin's Top Holders Refuse to Sell Amid Price Drop

Bitcoin's price has dropped 49% from its all-time high in October 2025, but some of its biggest holders are holding firm. According to on-chain data from Arkham Intelligence, Satoshi Nakamoto remains at the top with approximately 1.096 million BTC worth around $70.1 billion.

Nakamoto mined these coins across 22,000 blocks in the network's early days using a pattern known as the Patoshi Pattern and has not sold any since then. Coinbase comes second with about 970,000 BTC held on behalf of clients, ETF issuers, and retail users. Binance is third with around 660,000 BTC in cold storage.

BlackRock's IBIT ETF has accumulated approximately 764,000 BTC worth $48.9 billion since its launch in January 2024, which is more than the U.S. government holds. Fidelity's FBTC fund holds about 471,000 BTC in self-custodied vaults using its own infrastructure. Grayscale's GBTC still holds roughly 167,000 BTC despite significant outflows.

The top ten holders control approximately 5.5 million BTC, which is around 26% of the total 21 million coin supply. Analyst Ali Martinez has identified $70,920 as the immediate resistance level, while Standard Chartered maintains a $100,000 year-end target and Cathie Wood holds a $1.5 million base case for 2030.