Fish-to-Shark Whales Accumulate 110,000 BTC in 30 Days — Largest Post-FTX Buy
On-chain data from Glassnode shows mid-to-large Bitcoin holders (so-called “Fish-to-Shark”, addresses holding 10–1,000 BTC) increased their net holdings by roughly 110,000 BTC over the past 30 days. This is the largest collective accumulation by this cohort since the FTX-driven market panic in 2022. The Fish-to-Shark group now controls about 6.6 million BTC, up from roughly 6.4 million two months ago, indicating a structural reallocation of supply: some ultra-large whales (addresses >10,000 BTC) have shown net outflows while mid-sized holders add positions. The buying occurred while BTC trades in a consolidation range, ~25% below last October’s all-time highs and ~15% above the November low. Market observers interpret the move as “smart money” quietly accumulating during price pause, which historically can precede trend reversals or major rallies. Key data points: +110,000 BTC net buy in 30 days by Fish-to-Shark; Fish-to-Shark holdings ≈6.6M BTC; comparison to holdings ~2 months prior ≈6.4M BTC. Traders should watch whale flow shifts, on-chain accumulation metrics, and liquidity conditions for potential directional cues.
Bullish
Large net accumulation of ~110,000 BTC by mid-to-large holders (Fish-to-Shark) typically signals increased demand concentration among investors viewed as “smart money.” Historically, sustained on-chain accumulation by non-retail cohorts has preceded bullish phases or at least provided stronger support during rallies, because it removes circulating supply and can tighten liquidity. The shift of coins from ultra-large whales (net outflows) to mid-sized holders suggests redistribution to entities more likely to hold or strategically trade, which can reduce immediate sell pressure from a few large wallets. Short-term implications: potential for reduced downside volatility and increased bounce probability while accumulation persists; traders may see tighter ranges followed by breakout attempts. Long-term implications: if accumulation continues, it can underpin a multi-month uptrend or make rallies more sustainable. Risks/neutralizers include macro shocks, spot ETF flows, or large sell events from other cohorts. Overall, given the scale and historical parallels (post-bear bottom accumulations), the news leans bullish but not a guaranteed catalyst without confirming price action and broader market liquidity.