{"id":19487,"date":"2023-04-04T18:35:53","date_gmt":"2023-04-04T18:35:53","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/shrimps-have-aggressively-accumulated-btc-glassnode\/"},"modified":"2023-04-04T18:35:53","modified_gmt":"2023-04-04T18:35:53","slug":"shrimps-have-aggressively-accumulated-btc-glassnode","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/shrimps-have-aggressively-accumulated-btc-glassnode\/","title":{"rendered":"Shrimps have aggressively accumulated BTC: Glassnode"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/1680124242784-9f7365ce-03f4-4828-8258-49a5230f534f-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/1680124242784-9f7365ce-03f4-4828-8258-49a5230f534f-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/1680124242784-9f7365ce-03f4-4828-8258-49a5230f534f-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/1680124242784-9f7365ce-03f4-4828-8258-49a5230f534f-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li dir=\"ltr\">Bitcoin shrimps have been aggressive as market participants ride positive sentiment to buy more BTC.<\/li>\n<li dir=\"ltr\">Glassnode data shows BTC shrimps\u2019 30-day net position change has only been higher on 116 other trading days.<\/li>\n<li dir=\"ltr\">Bitfinex analysts highlighted on Monday that Bitcoin\u2019s non-zero balance addresses had risen to more than 45 million.<\/li>\n<\/ul>\n<p dir=\"ltr\">Retail holders, or crypto investors who own less than 10 bitcoin are aggressively adding to their portfolios, according to on-chain data provider Glassnode.<\/p>\n<p dir=\"ltr\">A look at the group of <a href=\"https:\/\/coinjournal.net\/bitcoin\/\">Bitcoin<\/a> holders collectively termed as \u201cShrimps\u201d shows that retail participation in the market over the past 30 days has been bettered only on 116 other trading days.<\/p>\n<h2 dir=\"ltr\">Shrimps with less than 1 BTC hold 1.29 million BTC<\/h2>\n<p dir=\"ltr\">According to Glassnode, with BTC price currently below $30k, the Shrimps\u2019 net position change as currently shown on-chain is only below 116 trading days. The cohort that holds less than 10 BTC in their wallets has a current 30-day change of 37 BTC\/month. The total supply held by the cohort is 1.29 million BTC.<\/p>\n<p dir=\"ltr\">\u201c<em>We can assess the 30d change to the supply held by the Shrimp class (&lt; 1 BTC) to evaluate the intensity of retail participation. Currently, only 116 days have recorded a larger 30d change, suggesting retail participants are aggressively accumulating<\/em>,\u201d Glassnode <a href=\"https:\/\/twitter.com\/glassnode\/status\/1643230586146791426\" rel=\"noopener noreferrer\" target=\"_blank\">tweeted<\/a>.<\/p>\n<div class=\"fr-img-space-wrap\"><span class=\"fr-img-caption fr-fic fr-dib fr-draggable\" style=\"width: 700px\"><span class=\"fr-img-wrap\"><\/p>\n<p dir=\"ltr\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/media.igms.io\/2023\/03\/04\/1680627790539-0804339c-685f-4ae5-9b06-d33b699fd3b6.jpg\" style=\"width: 700px\" class=\"fr-fic fr-dib\" width=\"700\" height=\"353\"\/><span class=\"fr-inner\"\/><\/p>\n<p dir=\"ltr\">Chart showing Bitcoin Shrimps net position change. Source: Glassnode<\/p>\n<p><\/span><br \/>\n<\/span><\/p>\n<p class=\"fr-img-space-wrap2\">The platform had previously pointed to overall aggressiveness in the market, with the intensity of shrimp accumulation following Bitcoin\u2019s recent price surge. BTC rising to highs near $29,000 in March had seen bullish projections for price to retest the $30,000 level amid a new macro uptrend.<\/p>\n<\/div>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">With <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> price action continuing to climb towards the cycle baseline ($30K), market participants have responded by aggressively accumulating coins. <\/p>\n<p>This underscores a similarity in structure between the current cycle and 2018-19 cycle.<\/p>\n<p>\ud83d\udcca <a href=\"https:\/\/t.co\/b1E5fiLnpQ\">https:\/\/t.co\/b1E5fiLnpQ<\/a> <a href=\"https:\/\/t.co\/h1vq22ldqj\">pic.twitter.com\/h1vq22ldqj<\/a><\/p>\n<p>\u2014 glassnode (@glassnode) <a href=\"https:\/\/twitter.com\/glassnode\/status\/1641855314789007382?ref_src=twsrc%5Etfw\">March 31, 2023<\/a><\/p>\n<\/blockquote>\n<p dir=\"ltr\">On Monday, crypto exchange Bitfinex released its Bitfiniex Alpha report, which we <a href=\"https:\/\/coinjournal.net\/news\/bitcoin-price-in-transition-even-as-non-zero-balance-addresses-hit-45-4-million-bitfinex-report\/\">highlighted<\/a> today. In the report, analysts pointed to growing demand for BTC among small investors, with those addresses with non-zero balances hitting a record 45.388 at the end of last month.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/retail-holders-are-aggressively-accumulating-bitcoin-glassnode\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News ) Bitcoin shrimps have been aggressive as market participants ride positive sentiment to buy more BTC. Glassnode data shows BTC shrimps\u2019 30-day net position change has only been higher on 116 other trading days. Bitfinex analysts highlighted on Monday that Bitcoin\u2019s non-zero balance addresses [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":19488,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/19487"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=19487"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/19487\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/19488"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=19487"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=19487"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=19487"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}