By Cyber Era NG Reporters
A new data-driven analysis by TechGaged.com reveals that the recent crypto market correction significantly reshaped Bitcoin’s visible wealth distribution, with 11,849 addresses falling below the US$1 million threshold within a matter of weeks. The findings highlight how rapidly shifting market prices can alter headline metrics without necessarily indicating large-scale selling or structural changes in ownership.
According to the research, the number of Bitcoin addresses holding at least US$1 million worth of BTC declined from 151,175 on January 9, 2026, to 139,326 by February 3, 2026, based on publicly available on-chain distribution data. The analysis attributes much of this contraction to valuation effects caused by Bitcoin’s price retracement rather than a fundamental shift in long-term holder behavior.
Valuation Compression, Not Structural Capitulation
The study indicates that millionaire wallet counts tend to fluctuate closely with price movements. As Bitcoin retraced from levels near US$90,000 to the mid-US$70,000 range, many addresses slipped just below the seven-figure mark. Meanwhile, mid-tier wallet bands — particularly addresses holding between 1 and 100 BTC — showed comparatively smaller structural shifts, suggesting that underlying ownership patterns remained broadly intact.
From an on-chain perspective, changes in millionaire wallet numbers can amplify market sentiment cycles. Visible declines in high-value addresses often coincide with tightening liquidity conditions, even when long-term supply distribution remains stable.
“As Bitcoin moves through liquidity cycles, USD-denominated wealth brackets can change rapidly even when the underlying distribution of coins remains relatively stable,” said Senior Research Analyst at TechGaged.com Rokas Baltrusaitis. “The drop in millionaire addresses appears more reflective of price compression than widespread capitulation, underscoring how on-chain metrics must be interpreted within broader macro and market context.”
Implications for Market Structure
TechGaged’s analysis highlights how Bitcoin’s wealth distribution remains highly sensitive to macro liquidity dynamics. Short-term price corrections may significantly reduce the number of visible “Bitcoin millionaires,” yet such shifts do not necessarily signal long-term structural weakness.
Researchers note that address-level data should be interpreted cautiously, as a single entity may control multiple wallets, and USD-based classifications fluctuate with market volatility.
Methodology
This research was conducted using publicly accessible on-chain distribution metrics from the BitInfoCharts Bitcoin Rich List.
Historical comparison is based on a January 9, 2026 snapshot archived via the Wayback Machine (Internet Archive).
Current data reflects values observed on February 3, 2026, using the same source page.
“Millionaire wallets” are defined as Bitcoin addresses holding balances exceeding US$1 million USD equivalent.
The net change of 11,849 addresses represents the difference between 151,175 (Jan 9) and 139,326 (Feb 3).
Because classifications rely on USD valuation, results may primarily reflect price movements rather than direct ownership changes.
Address-level data does not necessarily correspond to unique individuals or entities.
Oz Medicann Group (OMG), a leading Australian biotech company, has announced a strategic partnership with NeoCannBio (NCB), a biotech company based in South Korea, to accelerate the commercialisation of clinically validated cannabinoid-based therapeutics across Asia.
OMG is leading the way in research, development and commercialisation of innovative treatment therapies for a range of high clinical burden diseases such as sleep disorders, endometriosis, arthritis, and skin fungal infections. Partnering with leading researchers at the National Institute of Complementary Medicine and The Medical Institute of Research in NZ, OMG is strengthening the clinical and scientific evidence base underpinning emerging therapeutic products.
“Globally, an estimated 33 per cent of adults experience sleep disorders, millions live with arthritis, and approximately one in seven women are affected by endometriosis. These are significant, often under-addressed conditions with a substantial impact on quality of life. OMG’s product pipeline is focused on expanding access to new, evidence-based treatment options for these patient populations. Through strategic partnerships with leading global biotechnology companies, we aim to accelerate development and broaden access to these therapies. Today represents the first of what we expect will be many such partnerships,” said Group CEO of OMG Rohit Bhuta.
Under the partnership, OMG will work with NeoCannBio to utilise Australian clinical evidence and execute parallel clinical programs to accelerate regulatory discussions across agreed Asian territories, supporting more efficient market entry. In addition, NeoCannBio will receive exclusive distribution rights for products emerging from OMG’s clinical trial programs in agreed Asian territories, subject to regulatory approvals and performance milestones.
“With five rigorously designed clinical trials currently underway in Australia, we are generating high-quality, clinically relevant data that can be leveraged beyond a single market,” said Founder of Oz Medicann Group John Leith. “This partnership reflects our commitment to enabling other regions to responsibly access that evidence, reduce duplication, and ultimately support more timely patient access to clinically validated medicinal products.”
Highlighting the value of this evidence base from a regional perspective, CEO of NeoCannBio, Dr. Jungyeob Ham added: “This partnership allows us to work alongside an Australian company with strong clinical credibility and a clear long-term vision,” Dr Ham added: “By leveraging Australian clinical data, we can responsibly accelerate access to scientifically validated therapies for patients across Asia.”
Looking to the broader strategic implications of the collaboration, Jeong Kook Kim, President of NeoCannBio, said:
“We see this collaboration as a long-term strategic alignment that combines Australian clinical excellence with our regional development and commercial capabilities. Together, we aim to deliver meaningful healthcare solutions across Asia while maintaining the highest standards of science, governance, and regulatory compliance.”
The NSW Government, through Investment NSW, has supported Oz Medicann Group’s expansion into the Korean market by providing targeted one to one export and market entry assistance. This support included tailored business introductions, ongoing engagement, and facilitation of OMG’s initial connection with NeoCannBio during a Korean biotech delegation visit in 2023.
The collaboration delivers broader benefits for New South Wales and Australia, reinforcing the region’s position as a global hub for clinical trials, life sciences innovation, and regulated health technologies, while attracting long-term cross-border collaboration and investment.
Notably, the last cannabinoid-based medicine to achieve global regulatory approval, Epidyolex, was approved in 2019 for Dravet syndrome and has since achieved annual global revenues exceeding USD $1 billion, underscoring the scale of opportunity for clinically validated, regulator-approved cannabinoid therapeutics.
The agreement reflects a shared commitment to science-led development, regulatory excellence, and responsible international healthcare innovation, with Australian clinical research serving as the foundation for global patient impact. OMG is actively exploring similar strategic partnerships in other jurisdictions, as they build a scalable, international pathway anchored in Australian science.
