Some non-whale bitcoin (BTC) investors seem to have had no problem with the cryptocurrency bear market and the Fear, Uncertainty and Doubt (FUD) about the fall in FTX. suggested by the data of
Small retail investors are becoming increasingly bullish on bitcoin, according to the report, and have begun accumulating more bitcoin despite the ongoing market crisis. release By blockchain intelligence platform Glassnode on Nov. 27.
According to data, there are at least two types of retail Bitcoin investors accumulating record amounts of BTC after the FTX collapse.
The first type of investor, classified as Shrimp, defines an entity or investor holding less than 1 Bitcoin, $16,500 at the time of writing.
“Shrimp” investors reportedly added 96,200 BTC ($1.6 billion) to their portfolios after the FTX crash in early November, which is the “highest balance growth in history.” According to Glassnode, this type of investor holds 1.21 million BTC or $20 billion at the time of writing, representing 6.3% of the 19.2 million coins currently in circulation.
Meanwhile, Crab has bought around 191,600 BTC, or $3.1 billion, in the past 30 days, which analysts say is also a “convincing all-time high.” According to the data, this new milestone broke Kani’s record high of 126,000 BTC per month purchases in July 2022, or his BTC accumulation recorded at its peak of $2 billion. rice field.
Crabs and shrimps are accumulating record amounts of bitcoin while large bitcoin investors continue to sell bitcoin. According to Glassnode, the Bitcoin whale released about 6,500 BTC, or $107 million, to exchanges in the past month, which is a very large portion of his 6.3 million BTC, or $104 billion, holdings. Staying on the small portion.
The shrimp and crab behavior seems interesting given recent industry events, with Sam Bankman-Fried’s cryptocurrency exchange being the subject of a major industry scandal involving alleged fraud and embezzlement of funds. I’m here.
Meanwhile, some big Bitcoin investors remain bullish on Bitcoin despite the ongoing crisis, with the government of El Salvador starting to buy BTC on a daily basis from November 17th. Some claim that there are Twitter CEO Elon Musk has said he is confident Bitcoin will “do well” despite current industry issues, but he said there may be a “long crypto winter.” said.
Related: Exchange outflow hits historic high as Bitcoin investors self-manage
In the Aftermath of FTX’s Fall, Bitcoin Will Soon lost In mid-November, it plummeted from about $21,000 to $16,000, worth about $6,000. The cryptocurrency has recovered slightly over the past few weeks and is no longer above $17,000.
At the time of writing, BTC is up $16,500, or about 1.7%, in the last 24 hours, according to data from CoinGecko.
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