Wallets holding between 100 and 1,000 BTC have recently accumulated 65,000 BTC, raising questions about the current state and future of Bitcoin.
Shark Strategy of Accumulation
Shark wallets, which hold between 100 and 1,000 BTC, significantly increased their reserves by accumulating 65,000 BTC in the last week. This has boosted their total holdings to a record 3.65 million BTC, indicating a continuing trend even amid price fluctuations around $112,000.
Current Market Data
According to CryptoQuant data, two metrics – Long-Term Holder Net Position Change and Exchange Netflow – validate this emerging trend. The Long-Term Holder metric has sharply flipped positive as seasoned investors begin to accumulate assets. Meanwhile, exchange flows continue to show significant outflows as investors steadily withdraw their coins into cold storage, indicating that the recent buying is not just speculative repositioning but a real supply removal from liquid markets.
Miners Also Accumulate Bitcoin
Bitcoin miners are changing their habits by shifting from aggressive selling to steady accumulation. Despite record-high mining difficulty and rising transaction fees, miners are holding onto their assets. Factors such as US spot Bitcoin ETF approvals and sovereign adoption are fueling this accumulation-first strategy.
The aggressive accumulation of Bitcoin by both sharks and miners may signal a supply squeeze in the market. Conditions for price growth appear to be gradually forming.
