According to @santimentfeed, Bitcoin wallets holding 10-10K BTC have increased balances by just 0.36% since July 1, 2025, while wallets holding under 0.1 BTC are up 3.31% over the same period, indicating retail-led accumulation and flat smart-money exposure (source: Santiment, Dec 30, 2025). Santiment reports that large wallets stayed largely flat through H2 2025, rose into the October all-time high, and then sold, whereas small wallets accumulated aggressively throughout the second half of the year (source: Santiment, Dec 30, 2025). Santiment states that historically the strongest bear-to-bull reversals occur when large wallets accumulate and retail distributes, making a rotation toward whale accumulation a key bullish confirmation to watch into early 2026 (source: Santiment, Dec 30, 2025). Santiment warns that sudden transitions in either cohort are often followed by large price swings, so traders should monitor shifts in the 10-10K BTC and sub-0.1 BTC cohorts for volatility catalysts as 2026 begins (source: Santiment, Dec 30, 2025).