Bitcoin whales and sharks have been accumulating Bitcoin since the local top in April, adding a total of 93,000 BTC to their wallets.
According to data from on-chain analytics firm Santiment, these investors have become a bit more cautious in the last few weeks.
The relevant indicator here is the “Supply Distribution,” which measures the total amount of Bitcoin that each wallet group in the market is holding right now.
The addresses are divided into wallet groups based on the total number of coins that they are carrying in their balances currently. The 1-10 coins cohort, for example, includes all investors that are holding at least 1 and at most 10 BTC.
In the context of the current discussion, there are two investor groups that are of interest: the “sharks” and the “whales.”
The former of these is a cohort that includes the investors holding a moderate amount of coins, while the latter includes large holders.
Due to the amount of supply that the combined wallets of these groups hold, they can be quite influential in the market. Naturally, the whales are the more powerful entities, as they hold significantly larger amounts.
