Small investors are buying bitcoin. For a rally to succeed, the whales need to join in.
$BTC Small wallets have increased their BTC holdings by 2.5% since October's all-time high while large holders trimmed 0.8%, Santiment data shows.
What to Know
Bitcoin wallets holding less than 0.1 BTC have increased their share of supply to the highest since mid-2024 even as the price holds around the mid-$60,000s.
Larger holders with 10 to 10,000 bitcoins — the whales and sharks that typically drive major moves — have reduced their positions since the October peak.
The divergence supports choppy, fragile price action because retail demand alone cannot sustain rallies when big wallets are distributing into every recovery.
Bitcoin wallets holding less than 0.1 BTC have increased their share of supply to the highest since mid-2024 even as the price holds around the mid-$60,000s.
For much of this month, bitcoin BTC$67,363.06 has been trading around the mid-$60,000s. That much is humdrum.
The interesting bit is a developing split in coin ownership that could shape what happens next
BTC67,734.01-1.01%