Crypto Market Correction Erased 11,849 Bitcoin Millionaires Within Weeks

The recent crypto market correction has reshaped Bitcoin’s visible wealth structure, with thousands of high-value wallets falling below the $1 million threshold within weeks. On-chain distribution data indicates that the number of Bitcoin addresses holding at least $1 million worth of BTC dropped from 151,175 on January 9, 2026, to 139,326 by February 3, 2026, meaning 11,849 wallets are no longer classified as “Bitcoin millionaires.”

According to an analysis prepared by TechGaged.com, based on publicly available blockchain distribution metrics from BitInfoCharts, the decline coincided with Bitcoin’s price retracement that began around January 20. Because wallet tiers are calculated using a USD-based valuation, price volatility alone can shift thousands of addresses across wealth brackets, even without large-scale on-chain selling activity.

Millionaire counts fell as BTC price reset below previous highs

Data sourced from the BitInfoCharts Bitcoin rich list shows that the number of high-value addresses fluctuates closely with market liquidity cycles. As Bitcoin moved from near $90,000 to the mid-$70,000 range, many wallets that previously exceeded $1 million fell just below the threshold.

This suggests the recent contraction reflects valuation compression rather than a sudden exit of long-term holders. Distribution bands across mid-tier wallets—particularly addresses holding between 1 and 100 BTC—exhibited comparatively smaller structural changes, reinforcing the view that price dynamics played a larger role than large-scale coin redistribution.

From an on-chain perspective, shifts in millionaire wallet counts often amplify sentiment cycles because headline numbers change rapidly during volatile periods, even when underlying ownership patterns remain relatively stable.

What the data implies for the crypto market structure

For market observers, the findings highlight how Bitcoin’s wealth distribution is highly sensitive to macro liquidity swings. A relatively short-term price correction can significantly reduce the number of visible “millionaire” participants without fundamentally altering the long-term distribution of supply.

This dynamic also explains why crypto market narratives can shift quickly: a decline in millionaire wallets may signal tightening liquidity conditions rather than structural capitulation.

Methodology

This research was conducted using publicly accessible on-chain distribution data from
BitInfoCharts Bitcoin Rich List.

• The primary reference point for historical comparison is January 9, 2026, the most recent relevant snapshot archived by the Wayback Machine (Internet Archive) of the Bitcoin millionaire address distribution page.
• The current dataset reflects values observed on February 3, 2026, using the same source page (Bitinfocharts.com).
• Millionaire wallets are defined as Bitcoin addresses holding balances exceeding $1 million USD equivalent, based on BitInfoCharts’ “addresses richer than $1,000,000” metric.
• The change of 11,849 addresses was calculated by subtracting the February 3 total (139,326) from the January 9 archived snapshot (151,175).
• Because wallet classification depends on the USD exchange rate, results may reflect market price movements rather than direct changes in coin ownership.
• Address-level data does not necessarily represent unique individuals or entities, as a single user or institution may control multiple wallets.