Bitcoin’s Rollercoaster: Why the Big Fish Are Jumping Ship! 🎢💸

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So, it turns out that Bitcoin is still the life of the party, even if it occasionally trips over its own shoelaces. According to some fancy on-chain data, the Bitcoin network is still attracting new friends, except for one particular group of investors who seem to be playing a game of musical chairs—and they’re not winning.

Bitcoin Addresses With 100+ BTC Are Shrinking In Number

In a recent post on X (formerly known as Twitter, because who doesn’t love a good rebranding?), the analytics wizards at Santiment have shared some juicy tidbits about Bitcoin adoption. They’ve got this thing called “Supply Distribution,” which sounds like a fancy term for “how many people are hoarding Bitcoin like it’s the last slice of pizza.”

Now, these investors are sorted into groups based on how many coins they’re clutching. There’s the 1 to 10 coins crowd, which is basically the “I just got my allowance” group, and then there are the big shots with 100+ coins, who are more like “I just bought a yacht.”

For our purposes, we’re interested in three groups: the “tiny fish” (0 to 0.1 coins), the “medium fish” (0.1 to 100 coins), and the “big fish” (100+ coins). The first two groups are like the shrimp and crabs of the sea, while the last group is the sharks and whales—because who doesn’t want to be a whale?

Here’s a delightful chart from Santiment that shows how these groups have been swimming along in the Bitcoin ocean over the last few months:

As you can see, the little fish and medium fish have been multiplying like rabbits, which means more wallets are popping up. In fact, the tiny fish group has added a whopping 37,390 new addresses, while the medium fish have welcomed 12,754. But hold your applause; this growth wasn’t exactly a smooth ride. It’s more like a rollercoaster that occasionally makes you question your life choices.

Initially, when Bitcoin took a nosedive, the little fish jumped in, but as the price continued to do the cha-cha, some of them decided to swim back to shore. But hey, at least there’s still some net adoption happening, which is like finding a dollar in your old coat pocket—unexpected but welcome!

Now, let’s talk about the big fish. Compared to last month, the number of wallets with 100+ coins has dropped by 6. Yes, you heard that right—6 whole wallets! It’s not a catastrophe, but in the world of Bitcoin, every coin counts. These big holders are like the VIPs of the crypto club, and their absence is felt more than a bad DJ at a wedding.

So, while the little guys are having a party, the big fish are quietly slipping away. “Keep an eye on those 100+ BTC wallets,” Santiment advises, “because if they start to grow again, it might mean a crypto-wide breakout is on the horizon.” Sounds like a classic case of “the more you know!”

BTC Price

In the meantime, Bitcoin has been trying to recover from its recent price plunge, and guess what? It’s back above $90,000! 🎉

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2025-03-07 02:06