The surprising shift in Bitcoin ownership: whales drop 4% as Shrimps, Crabs thrive

2023-4-25 13:45

Quick Take A lot of analysis has been around whales accumulating Bitcoin (BTC) while other cohorts sell. But it is important to understand different entity balances to see where the potential sell pressure could come from and how the trend is changing. Looking at the past five years, some notable changes in cohort accumulation and distribution The only two cohorts to have added to their balance dominance are shrimps and cohorts, while all other cohorts have seen distribution — with whales dropping the most by 4%. 2018 Shrimps: 2.889% Crabs: 7.242% Fish: 17.743% Shark: 19.805% Whales: 38.495% Miner: 10.666% Exchanges: 13.826% 2023 Shrimps: 6.71% Crabs: 10.651% Fish: 16.887% Shark: 19.754% Whales: 34.024% Miner: 9.428% Exchanges: 11.998%

 

Entity: (Source: Glassnode) Entity: (Source: Glassnode)

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