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Bitcoin Shrimps Continue Aggressive Accumulation As Holdings Hit ATH
Bitcoin, the world’s leading cryptocurrency, has witnessed a surge in the accumulation of holdings by retail investors known as “shrimps.” On-chain data provided by Glassnode, a prominent analytics firm, reveals that the supply held by these small Bitcoin investors has reached an all-time high. Over the past month alone, the shrimp supply has increased by an impressive 24,600 BTC, highlighting the aggressive accumulation taking place within this segment of the market.
Understanding Bitcoin Shrimps and their Significance
Bitcoin shrimps are individuals who hold wallet balances of less than 1 BTC, indicating their status as retail investors. Monitoring the shrimp supply, which represents the total amount of Bitcoin held across these addresses, provides valuable insights into the behavior and sentiment of this retail investor segment.
The Implications of Shrimp Supply Trends
Analyzing the trend in shrimp supply offers valuable clues about the current activity of retail investors. An upward trend in the shrimp supply indicates ongoing accumulation by these investors, while a downward trend suggests distribution of their holdings. Until around mid-2022, the Bitcoin shrimp supply had been…
