As the bitcoin price moved upward in the past few months, holders with stashes less than “whales”, often referred to as “bitcoin sharks,” displayed a record-breaking accumulation spree, biggest since 2012. Over the past month, these entities, holding between 100 and 1,000 BTC each, collectively purchased more than 268,000 BTC, valued at nearly $18.6 billion at the current market prices.

Analyst James Van Straten sheds light on this development in a recent analysis posted on social media platform X, emphasizing the substantial net buying moves made by the sharks.

Source: X

The surge in shark accumulation is evident from the positive trend in the net position change metric, which…

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