Bitcoin’s price has been on a roll, but there are hints it might take a step back. That’s not exactly surprising—no asset has ever risen in a straight line forever. Corrections are part of the game, and they can help set the stage for what comes next.
What’s Putting Bitcoin at Risk?
Right now, Bitcoin is hovering close to the $100,000 mark, an exciting milestone for anyone following its journey. But as the price climbs, we’re seeing more people cashing out. Over the past two days alone, $4 billion in profits have been taken, according to Glassnode. While this sounds like a lot, there’s always another side to the story. For every seller, there’s a buyer ready to step in.
Diving into the numbers, retail investors—often called “Shrimps”—have been offloading their Bitcoin. Around 75,000 BTC, worth about $7 billion, were sold by these smaller holders. Interestingly, this is the largest sale by this group since Bitcoin hit its peak of $73,000 in March 2024.
Some might dismiss these smaller investors as less informed, but history tells us otherwise. Time and again, retail sellers have managed to exit at just the right moment—though this usually becomes clear only in hindsight.
Who’s Scooping Up the Bitcoin?
On the other side of these transactions are wealthier investors, labeled “Sharks” by Glassnode. These individuals or groups, who hold between 100 and 1,000 Bitcoin each, have been snapping up coins. Over this period, they’ve accumulated around 140,000 BTC, showing confidence even as prices edge higher.
At the same time, the amount of Bitcoin held on exchanges is shrinking. Right now, there are only about 2.9 million BTC left on these platforms. This is often a good sign for the market because it means fewer coins are readily available for selling.
The Big Question
With everything happening, you might be wondering—will Bitcoin finally cross that $100,000 line? The data shows a mix of caution and confidence, which makes the coming days even more interesting to watch.
What’s your take? Could this be the moment we’ve been waiting for, or is a correction just around the corner?
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