Data reveals Bitcoin Sharks & Whales remain unfazed by sub-$60,000 crash 🦈🐋

Exciting Trends in Bitcoin Ownership Among Key Investors

Data from Santiment reveals that over the past month, there has been a notable increase in Bitcoin holdings among significant investors, known as sharks and whales. These investors play a crucial role in the market due to the substantial amount of Bitcoin they possess. The Supply Distribution metric provides insights into the percentage of the total Bitcoin supply held by different wallet categories based on the number of coins they own.

The 1 to 10 coins cohort consists of wallets holding between 1 and 10 BTC.
Of particular interest is the group that holds between 10 and 10,000 coins, with a value range of $598,000 to $598 million.
Sharks and whales, being influential entities in the market, fall into this category due to their significant holdings.

Monitoring Bitcoin Supply Distribution for Key Insights

Sharks and whales have acquired approximately 133,300 Bitcoin over the past month, as shown in the Supply Distribution chart. Despite recent price fluctuations, these investors continue to accumulate Bitcoin, indicating a lack of concern towards bearish market conditions. Notably, smaller investors selling to larger entities have been the source of these newly acquired tokens.

Implications for Bitcoin Price Movements

While the confidence displayed by large investors is generally positive for Bitcoin’s future, it is essential to monitor their behavior closely. A sudden change in their accumulation patterns could potentially lead to a bearish market sentiment if they decide to offload their Bitcoin holdings.