Investors holding less than one BTC, dubbed 'shrimps', have been accumulating Bitcoin over the last two months, contrasting with 'humpback whales' who hold over 10,000 BTC and are distributing their coins. Despite recent price rallies, long-term holders (LTHs), defined as those who have held for more than 155 days, appear uninterested in selling, retaining 78% of Bitcoin's circulating supply. The Bitcoin blockchain data highlights a shift in buying pressure since the price increase from $55,000 in September to nearly $90,000. Small addresses have significantly increased their holdings, indicating a change in the narrative around who constitutes 'smart money'. The past three months have shown supply consistently outstripping issuance, with all investor cohorts accumulating a total of 26,000 BTC over the last 30 days. This accumulation trend challenges the conventional view that whales represent the more astute market players, as retail investors have seized the opportunity during price rises.

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