Bitcoin Sharks Buy 65K BTC In A Week To Signal Demand Rebound, CryptoQuant Says
Bitcoin sharks, who are investors that hold between 100-1,000 BTC, have added 65K coins to their holdings in a week to signal a rebound in demand, according to crypto intelligence firm CryptoQuant.
A new research report by CryptoQuant contributor XWIN noted that the shark buying activity coincided with a bounce in BTC’s price from its lowest-point in two months.
The recent purchases have pushed the total holdings of those investors to a record 3.65 million BTC as well, the report added.
Long-Term Investors Are Buying Up BTC Supply
In the report, XWIN said that the increased buying activity from sharks while BTC’s price hovered at two-month lows suggests “a growing disconnect between retail-driven volatility and deeper structural demand.”
The CryptoQuant contributor added that there are two on-chain datasets that confirm that disconnect. They are the “Long-Term Holder (LTH) Net Position Change” and “Exchange Netflow.”
XWIN noted that the LTH Net Position Change, which tracks 30-day balance shifts among experienced holders, “has turned strongly positive.”
Green spikes in that metric signal that “long-term players are absorbing supply instead of distributing it,” the CryptoQuant contributor said, adding that these spikes “often occur in the buildup to larger bull runs.”
Meanwhile, investors have also been moving BTC off of exchanges and into cold storage. This, according to XWIN, “aligns with the LTH absorption trend, confirming that shark buying is not speculative churn” but rather a deliberate effort to remove supply from the market.
With the above in mind, XWIN predicted that the Bitcoin price could rally off of a supply squeeze.
“While short-term corrections remain possible if derivatives leverage overheats, the structural backdrop favors higher prices once demand picks up,” XWIN wrote.
The CryptoQuant contributor added that beneath the volatility, the foundation for BTC’s “next strong leg upward appears to be forming.”
BlackRock’s IBIT Helps Bitcoin ETFs Continue Their Inflows Streak
While Bitcoin “sharks” buy more BTC and Bitcoin continues to leave exchanges, over $1.2 billion has also flowed into US spot Bitcoin ETFs (exchange-traded funds) in the last 48 hours.
In the latest trading session, the BTC funds saw $552.7 million enter their reserves, data from Farside Investors shows. This was after $741.5 million entered the funds the day before.
With the inflows seen in the past 48 hours, the US spot Bitcoin ETFs have extended their positive flows streak to four days.
BlackRock’s IBIT fund posted the highest net inflows during that period, and was the only one of the funds to record positive flows every day during the four-day period.
In the last trading session, IBIT saw its reserves grow by $366.2 million. The next-highest net inflows for the day were recorded by Fidelity’s FBTC.
US spot BTC inflows (Source: Farside Investors)
Meanwhile, Bitwise’s BITB, Invesco’s BTCO, Franklin Templeton’s EZBC, and VanEck’s HODL recorded net daily inflows of $40.4 million, $5.7 million, $3.3 million, and $2.4 million, respectively.
The remaining funds all recorded no new flows on the day.
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