On-chain data shows that Bitcoin investors holding between 100 and 1,000 BTC have been on an unprecedented buying spree in the past two months.
Bitcoin Supply Held By Sharks Has Sharply Gone Up Recently
As analyst Willy Woo explains in a new post on X, a group of high-net-worth Bitcoin investors has been buying heavily recently. More specifically, these holders are carrying between 100 and 1,000 BTC in their wallets right now.
At the current cryptocurrency exchange rate, the lower bound of this range is about $6.2 million, while the upper one is about $62 million. Investors of this size are popularly known as “sharks.”
Given these large holdings, sharks can exert some influence in the market, although they are less significant than the whales, the largest holders (1,000+ BTC).
Below is the Glassnode chart shared by Woo, which displays the trend in the total amount of Bitcoin supply held by the investors belonging to this range over the last few years:
Note that the s
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