On-chain data reveals a rare accumulation spree: medium-to-large Bitcoin holders are buying at the fastest pace since the FTX crash in 2022. According to Glassnode, the cohort labeled "Fish-to-Shark" — addresses holding 10 to 1,000 BTC — net added roughly 110,000 BTC over the past 30 days. This marks the largest single-month buying push since Bitcoin traded around $15,000 during the FTX-induced panic more than three years ago.
Who Are the 'Fish-to-Shark' Holders?
This group covers high-net-worth individuals, professional trading teams, and some institutional investors. They now control nearly 6.6 million BTC, up from about 6.4 million two months ago. In contrast, wallets holding over 10,000 BTC (mega-whales) have seen net outflows, suggesting a structural redistribution of supply.
Accumulation Amid Consolidation
Bitcoin remains in a range-bound pattern, roughly 25% below its all-time high but up about 15% from the November low near $80,000. While retail sentiment stays cautious, this cohort is adding aggressively. Historically, such coordinated accumulation by mid-sized holders has preceded major price rallies or bottom formations, drawing close market attention.