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The Power of Small Investors in the Bitcoin Market: 6.9% of the Total Supply is in Their Hands! - Coin Bulletin
On-chain analysis platform Glassnode reported a notable activity in the Bitcoin market.
The group known as "Shrimps", which is described as small investors and holds less than 1 BTC, has started rapidly accumulating Bitcoin again after selling at all-time high (ATH) price levels.
Shrimp investors are currently accumulating approximately 17,600 BTC per month. The total Bitcoin holdings of this group have reached 1.36 million BTC, which is equivalent to 6.9% of the total circulating supply of Bitcoin.
Glassnode's charts show that the Shrimps group has been increasingly influential in the market in recent times. This group distributed its assets as Bitcoin prices reached record levels, and now it is re-entering an active accumulation phase amid price declines and stabilization.
Meanwhile, Bitcoin entered this week with a drop and has so far had a volatile January. However, analysts interpret this as history repeating itself and continue to remain bullish in the long term.