Large Bitcoin holders (fish to shark) buy most BTC since FTX collapse
On-chain analysis shows that Bitcoin accumulation by wallets classified as ’fish’ to ’shark’ (small to large holders) has accelerated to levels not seen since the 2022 FTX collapse. These groups—retail and mid-to-large holders—are adding BTC at a notable pace, increasing their net balances. Key metrics include rising net inflows to non-exchange wallets and concentration increases among mid-size and large addresses. The trend suggests decreased selling pressure from retail and heightened conviction among longer-term holders. Market implications: rising accumulation can support price stability and reduce available supply on exchanges, potentially providing upward pressure on BTC prices if demand persists. Traders should watch exchange outflows, on-chain accumulation rates, and spot market liquidity for short-term signals; longer-term, sustained accumulation by these cohorts typically precedes bullish phases. Primary keywords: Bitcoin accumulation, whale accumulation, non-exchange inflows. Secondary keywords: exchange outflows, on-chain metrics, FTX collapse.
Bullish
Accelerated accumulation by wallets from ’fish’ to ’shark’ reduces circulating supply available for spot selling, especially when reflected as net inflows to non-exchange wallets and exchange outflows. Historically, similar patterns of sustained accumulation by retail and whales—particularly after market shocks like the FTX collapse—have preceded multi-week to multi-month recoveries as liquidity tightens and selling pressure eases. Short-term, traders may see reduced volatility and potential spikes when liquidity thins; this can create favorable conditions for price appreciation if buying demand continues. However, impact size depends on concurrent macro factors (risk sentiment, rates) and spot liquidity. Monitoring exchange balances, on-chain accumulation rates, whale transactions, and order-book depth will help confirm if accumulation translates into sustained bullish momentum.