Bitcoin Sharks & Whales continue to accumulate: the best new stage set of all time?

Data on the chain shows that large Bitcoin investors continue to buy as coin prices approach the all-time high (ATH).

Bitcoin investors with 10-10,000 BTC recently expanded their holdings

In a new post from X, on-chain analytics firm Santiment talks about the latest trends in the supply held by major Bitcoin investors.

At current exchange rates, this range converts to $1 million at the bottom and $1 billion at the top. Therefore, the only investors who can qualify are investors with significant holdings. Generally, the impact of entities in the market increases with more supply than they manage, so holders within this range retain important locations in the ecosystem. Collectively, these investors are commonly known as sharks and whales.

Now, here is the chart shared by the analytics company. This indicates a trend in the distribution of sharks and whales.

As shown in the graph above, Bitcoin sharks and whales have recently seen a rise in supply distribution. More specifically, investors falling in the 10-10,000 BTC range have added around 83,100 tokens to their wallets over the past month. However, this accumulation was not in a constant way as these investors actually reduced supply at the beginning of the month.

This sale from the cohort exceeded $97,000 for BTC recovery, so the motivation behind it could be profitable. The chart also shows that this sale has brought about a cryptocurrency pullback.

During the latest update of bullish momentum, sharks and whales have once again resumed their Bitcoin accumulation, surpassing their holdings, particularly from their previous peaks. So far, the group has shown no indication of profitability. This could, of course, be a bullish sign of rally sustainability.

On the same chart, Santiment also includes data for the supply distribution of investors under 0.1 BTC. Interestingly, these investors sell while sharks and whales are experiencing accumulation.

This could indicate that shrimp believes that the top could be in the immediate place. However, given the accumulation from large investors, the analytics company said:

BTC price

At the time of writing, Bitcoin has grown by around $103,800, or 11% over the past seven days.