Quick Take
Over the course of the past 30 days, Bitcoin (
$60,534.00 ) cohorts have shown remarkable accumulation, hitting a high last seen in October 2023 with a total monthly balance change of 111,000 BTC.
To put this into perspective, this is the highest Bitcoin ( $60,534.00 ) accumulation witnessed since before the notable surge when Bitcoin ( $60,534.00 ) ’s value escalated from $25,000 to $40,000.
Bitcoin ( $60,534.00 ) All Cohorts vs Issuance: (Source: Glassnode)
Currently, the monthly issuance of Bitcoin ( $60,534.00 ) stands at 27,000, yet an anticipated halving event in April is to cut this issuance to 13,500 BTC per month. Interestingly, across all cohorts, Bitcoin ( $60,534.00 ) accumulation is outpacing issuance by over four-fold.
Drilling deeper into specific cohort behavior, ‘Whales,’ those entities holding between 1k-10k Bitcoin ( $60,534.00 ) s, are accumulating approximately 236,000 BTC over a 30-day period, thereby leading the accumulation race. Meanwhile, ‘Super Whales,’ those holding 10k Bitcoin ( $60,534.00 ) or more, have been observed distributing about 50k Bitcoin ( $60,534.00 ) in the past month.
Bitcoin ( $60,534.00 ) Whales vs Issuance: (Source: Glassnode)
Simultaneously, exchanges have seen a net outflow of roughly 50k Bitcoin ( $60,534.00 ) over the past 30 days. Among the smaller cohorts, ‘Shrimps,’ those holding less than 1 Bitcoin ( $60,534.00 ) , have accumulated 13k Bitcoin ( $60,534.00 ) , while ‘Crabs’ and ‘Fish’ have been noted for light distribution over the past 30 days.
Shrimps vs Monthly Issuance: (Source: Glassnode)
Bitcoin ( $60,534.00 ) ETFs, such as Grayscale, these entities typically distribute their holdings across a multitude of wallets. Furthermore, based on Glassnode’s parameters, entities with assets under management surpassing $51 million are now classified under the ‘Whale’ category.
The post Bitcoin ( $60,534.00 ) accumulation hits new peak ahead of upcoming halving appeared first on CryptoSlate.
$0.53 ) Official Wallet
