Bitcoin sharks stack at the fastest pace in 13 years, with BTC down 30%
Bitcoin sharks are accumulating BTC at the fastest rate in 13 years despite a 30% price drop, though long-term whales are selling, capping upside potential.Summary
Despite Bitcoin being down 30% from its peak and trading near $85,000, on-chain data shows that "sharks" (entities holding 100 to 1,000 BTC) aggressively accumulated about 54,000 BTC in one week, marking the fastest pace of accumulation since 2012. This suggests strong conviction among high-net-worth individuals, mirroring historical patterns that preceded major rallies. However, this buying pressure is being offset by heavy selling from long-term holders and whales (over 10,000 BTC), who are distributing coins at rates not seen in years, which is capping potential price appreciation. Furthermore, veteran trader Peter Brandt noted Bitcoin's breakdown below parabolic support, a historical indicator that could lead to an 80% price correction down to $25,000.
(Source：Cointelegraph)