Non-whale Bitcoin investors break new BTC accumulation record

cointelegraph.com:

Some non-whale Bitcoin (BTC) investors seem to have had zero issues with the cryptocurrency bear market as well as fear, uncertainty and doubt (FUD) around the fall of FTX, on-chain data suggests.

Smaller retail investors have turned increasingly bullish on Bitcoin and started accumulating more BTC despite the ongoing market crisis, according to a report released by the blockchain intelligence platform Glassnode on Nov. 27.

According to the data, there are at least two types of retail Bitcoin investors that have been accumulating the record amount of BTC following the collapse of FTX.

The first type of investors — classified as shrimps — defines entities or investors that hold less than 1 Bitcoin, $16,500 at the time of writing, while the second type — crabs — are a category of addresses holding up to 10 BTC, $165,000 at the time of writing.

“Shrimp” investors have reportedly added 96,200 BTC ($1,6 billion) to their portfolios following the FTX crash in early November, which is an “all-time high balance increase.” This type of investor collectively holds 1.21 million BTC, or $20 billion at the time of writing, which is equivalent to 6.3% of the current circulating supply of 19.2 million coins, according to Glassnode.

In the meantime, “crabs” have bought about 191,600 BTC, or $3.1 billion, over the past 30 days, which is also a “convincing all-time-high,” the analysts said. According to the data, the new milestone has broken a previous high of BTC accumulation recorded by crabs in July 2022 at the peak of 126,000 BTC, or $2 billion, bought per month.

While crabs and shrimps have been accumulating record amounts of Bitcoin, large Bitcoin investors have been selling. According to Glassnode, Bitcoin whales have released about