Small-scale Bitcoin (BTC) buyers surpass ETF with more active accumulation
The post Small-scale Bitcoin (BTC) buyers surpass ETF with more active accumulation appeared on BitcoinEthereumNews.com.
Bitcoin (BTC) was visibly flowing into large-scale wallets for the most of 2024. However, shrimp accumulation accelerated in the past few months, turning small-scale holders into a significant factor. For most of 2024, it looked like retail investors were skipping out on the bull market. However, shrimp accumulation accelerated, creating new wallets holding under 1 BTC. Buying by small-scale retail holders concentrated in the last quarter of 2024, through the most active part of the bull market. Wallets with less than 1 BTC are re-accumulating, as their count was historically higher ahead of the 2022 crash. At one point, those wallets held more than 15% of the supply, or over 3M BTC. The balance shifted into whale wallets during the bear market, but the trend may be turning again. The trend of shrimp accumulation is shifting the absorption of new BTC, both from mining and from sellers. After retail traders joined, their absorption rate increased to more than 17.6K monthly. Once again, shrimp are buying up more than the month’s mined supply. During previous rallies, shrimp have also accumulated even faster, at over 33,000 BTC per month. However, this type of investor is sometimes reluctant to buy the dip, as accumulation stalled after the correction of August 2024. Shrimp buying is also regular, suggesting the small-scale owners are ‘stacking sats’, unlike ETF where large-scale inflows are often followed by selling. For some analysts, whales may be more level-headed, while retail buyers tend to panic. The latest buying, however, only saw profit-taking at the top, while accumulation continued after every BTC dip. Shrimp investors now hold over 6.9% of all BTC produced, surpassing even the actively accumulating ETF, which control around 4% of the BTC supply. The new small-scale wallets already hold a total of 1.36M BTC, comparable with the holdings…
Filed under: News - @ January 13, 2025 10:19 pm