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

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

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