On-chain data shows the shark and whale population on the Bitcoin network has surged to a new record, indicating continued influx of large entities.
Bitcoin Sharks & Whales Are Sitting At A Record CountAddresses are divided into these cohorts based on the number of coins that they are carrying in their balance. The 1 to 10 coins group, for example, includes all investors owning between 1 and 10 BTC. Now, here is the chart for the Bitcoin Supply Distribution shared by Santiment that shows the trend in its value for three ranges: 0 to 1, 1 to 100, and 100+ coins:
As shown in the graph above, the Bitcoin Supply Distribution has increased for the 100+ BTC and 0 to 1 BTC cohorts since mid-2024, indicating growth among both the largest and smallest investors. The 1 to 100 coins group, however, has shown the opposite trajectory in this window; addresses of this size have seen their population shrink.
From the chart, it’s visible that the Bitcoin sharks and whales saw a slight overall downtrend between 2017 and 2024. Something changed in mid-2024, however, with big-money interest once again pouring back into the cryptocurrency. So far, the new uptrend has been maintained, but it only remains to be seen whether the 100+ coins range will continue to grow in the near future or if it will find stability once more.
Just like how the large investors have seen their population reach new highs recently, the retail traders are also sitting at a record. Currently, their Supply Distribution has a value of 57.6 million, far eclipsing that of the other groups.
BTC PriceAt the time of writing, Bitcoin is floating around $72,400, up over 2.5% in the last seven days.
