- Whales and sharks are accumulating Bitcoin, with whales holding 84,000 more BTC and sharks 244,000 more BTC compared to 30 days ago
- Smaller investors with 10-100 BTC have been distributing/selling their coins over the past month
- Some argue this bull market is still early compared to past cycles, with past regret being selling too late while current regret may be from selling too soon
Bitcoin price remains volatile near all-time highs. Larger investors are buying up available coins, while smaller investors are reducing their exposure.
Whales and sharks accumulating
According to on-chain analytics firm Glassnode, Bitcoin whales (entities holding 1000+ BTC) have been accumulating heavily. As of March 17, whales held around 84,000 more BTC than 30 days prior based on flows between whale wallets and exchanges. Bitcoin sharks (entities holding 100-1000 BTC) also began accumulating in late February. Their 30-day net position change was 244,000 BTC as of March 17.
Smaller investors distributing
In contrast, smaller Bitcoin investors (those with 10-100 BTC) have been distributing their coins over the past month. This data shows a clear trend of larger players accumulating Bitcoin, while smaller holders are selling.
Historical perspective
Compared to previous cycles, some argue this bull market is still in its early stages. Past regrets have been from selling too late, while this cycle’s regret may be from selling too soon. Regardless, Bitcoin’s price remains in flux near all-time highs. Strong institutional inflows continue, but significant price discovery has been brief so far.
