Shark people rush to buy the dip, giant whales quietly sell the top? BTC holding structure undergoes a major reshuffle

2026-01-12 10:10:04

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Bitcoin has fallen from its high point to around $90.69K, a decline of about 30%. Interestingly, while giant whales are fleeing, mid-sized addresses holding 100 to 1,000 BTC are quietly increasing their positions.

Sharks Enter the Market Collectively, Holding at a Ten-Year High

According to on-chain data from Glassnode, this group of medium-sized holders, known as “Shark People,” recently accumulated approximately 54,000 BTC in the past week, bringing their total holdings to 3,575,000 BTC. More notably, their accumulation rate has broken records since 2012, indicating a strong willingness among these investors to buy during the downturn.

Whales Retreat, Who Is Taking Over?

In contrast to the aggressive buying by Shark People, large holders with over 10,000 BTC have been steadily reducing their holdings over the past two months. Charles Edwards, founder of Capriole Investments, observed an interesting phenomenon — institutional sellers are being gradually absorbed by long-term holders, and the market structure is quietly changing.

Technical Indicators Sound the Alarm

However, trader Peter Brandt issued a warning: BTC has broken below a key parabolic support level, suggesting that further deep corrections are possible. For Shark People trying to buy the dip during the decline, caution is advised in the short term.

The market currently shows clear signs of divergence — holder structure is being reshaped, and technical risks have not been fully eliminated.

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