Bitcoin is experiencing a divergence in sentiment among hodlers as the digital currency approaches all-time highs, with larger players accumulating more coins. On-chain analytics firm Glassnode has revealed that Bitcoin whales and sharks, defined as entities holding 1,000 BTC or more and entities holding between 100 BTC and 1,000 BTC respectively, are aggressively accumulating Bitcoin at current prices. The data also shows that these larger players have significantly increased their positions, while smaller hodlers with between 10 BTC and 100 BTC have been distributing their assets. This trend indicates that smart money is buying while less informed investors are selling. Despite the current volatility in the market, Bitcoin Munger, a popular commentator, believes that the current price cycle is just the beginning and that there is more upside potential for Bitcoin. It is important to note that this article does not provide investment advice and readers should conduct their own research before making any investment decisions.
Whales and sharks accumulate 328K BTC in a month while Bitcoin experiences a surge in selling by inexperienced investors.