Bitcoin Shrimps Accumulating BTC: Is This a Bull Run Signal?

  • In July, the largest cryptocurrency Bitcoin (BTC) regained the $30,000 price level.
  • According to Glassnode data, the Bitcoin Shrimp Investor Group (addresses holding less than 1 BTC) has been rapidly progressing.
  • Bitcoin’s rise to $30,000 helped many investors make a profit after a long time.

Bitcoin price is recovering rapidly. The monthly BTC accumulation of shrimp investors in Bitcoin has exceeded 33,000; This movement was one of the biggest moves made by Bitcoin shrimps!

Bitcoin Shrimps are Accumulating BTC

Bitcoin (BTC)

In July, the largest cryptocurrency Bitcoin (BTC) regained the $30,000 price level. On-chain data shows that this increase in Bitcoin price is not only due to the accumulation of whales but also the equal participation of BTC shrimp investors.

According to Glassnode data, the Bitcoin Shrimp Investor Group (addresses holding less than 1 BTC) has been rapidly progressing. Shrimp investors accumulated more than 33,400 Bitcoin monthly. It was stated that this accumulation was one of the biggest moves made by shrimp investors. However, this move allowed shrimp investors to have a total of 1.33 million Bitcoin.

On-chain data paints a positive outlook for Bitcoin and the crypto market. It emphasizes the profit realization rate (%79) of the current circulating Bitcoin. Bitcoin’s rise to $30,000 helped many investors make a profit after a long time. However, the profit indicator plays an important role in determining the position of investors in the market.

bitcoin-shrimps

Is This a Bull Run Signal?

Glassnode reported that Bitcoin’s realized capitalization has consistently occupied a net capital inflow regime reaching $396 billion. This indicates that a significant amount has entered the asset class to increase its value. Meanwhile, Glassnode, an on-chain tracker, has kept the expansion size independent of the bull market relationship.

In the last 30 days, the price of Bitcoin has increased by more than 13%. The BTC price has gained over 84% since the beginning of the year. Bitcoin is currently trading at an average price of $30,990. The 24-hour trading volume increased by 65% to reach $12.7 billion.

Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news.
spot_imgspot_imgspot_imgspot_img

Latest News

Bitcoin (BTC) is “Super Cheap” at $69k: Adam Back Rejects Post-Halving Crash Predictions

Legendary cypherpunk and Blockstream CEO Adam Back offers a contrarian view on Bitcoin's price action. Get expert insights on market sentiment, halving predictions, and BTC's long-term value potential.

Ethereum’s Pectra Upgrade: Enhanced UX, Wallet Innovation, and Community Debate (ETH)

The Ethereum Pectora upgrade promises a revolution in wallet functionality. Get insights on the debate surrounding its groundbreaking features and their potential impact on the Ethereum ecosystem.

Bitcoin (BTC) Price Retreats Amid Gold’s Record Surge; Analysts Eye Re-accumulation Phase

Find out why Bitcoin's momentum stalled as gold soared to new highs. Explore expert insights on BTC's price trajectory and the significance of re-accumulation patterns.

Litecoin (LTC) Surges in Popularity, Surpassing 5 Million Long-Term Holders

Discover the reasons behind Litecoin's surge in popularity and why investors are increasingly choosing LTC for long-term holdings. Get insights into the future potential of this established cryptocurrency.

Bitcoin Nears Bullish Breakout – Pi Cycle Top Metric Hints at Potential Price Surge

Get the latest insights on Bitcoin's price action, the significance of the Pi Cycle Top metric, and expert predictions for potential price movements.
spot_imgspot_imgspot_imgspot_img

PRO Analysis

Bitcoin BTC’s Path to Recovery: Will the Upcoming Halving Trigger a Rise Above $71,400?

This analysis delves into Bitcoin's immediate future as it approaches a critical halving event, exploring potential movements above key resistance levels.

Bitcoin (BTC) Surges Past $70k: Could $75k be the Next Target?

Bitcoin (BTC) has made a decisive move above $70,000, indicating bullish momentum. This article delves into the factors driving the surge, technical analysis, and what investors should watch for in the near term.

NEO Launches Uptrend to $25! Current NEO Analysis

Analyzed NEO's 3-hour chart, showing upward trend post $14.80 resistance breakthrough, eyeing $15.18 resistance; potential long positions suggested at $14.636 - $14.448 support range with a stop loss at $13.90, as NEO aims for $25 target amidst over 5% gains.

Is Litecoin Ready to Launch its Rise to $140? Current LTC Analysis

When examining LTC's technical chart, a downward trend is observed in recent days. The nearest support is at the level of 91.86 dollars. The support range between 97.61$ and 99.07$ on the 4-hour chart is significant. For long positions, the support range of 92.41$ - 91.07$ can be expected.

Bitcoin (BTC) Surges Past $70k: Could a Rally to $75k be Next?

Get expert analysis on Bitcoin's breakout above $70,000. Discover what's driving the price action, key levels to watch, and potential scenarios for BTC's near-term future.
Lucien Renard
Lucien Renardhttps://en.coinotag.com/
Lucien Renard is a 24-year-old writer specializing in cryptocurrency analysis and price action. With a focus on technical analysis, Lucien provides valuable insights into market trends and potential opportunities for investors.
spot_imgspot_imgspot_imgspot_img

Bitcoin (BTC) is “Super Cheap” at $69k: Adam Back Rejects Post-Halving Crash Predictions

Legendary cypherpunk and Blockstream CEO Adam Back offers a contrarian view on Bitcoin's price action. Get expert insights on market sentiment, halving predictions, and BTC's long-term value potential.

Ethereum’s Pectra Upgrade: Enhanced UX, Wallet Innovation, and Community Debate (ETH)

The Ethereum Pectora upgrade promises a revolution in wallet functionality. Get insights on the debate surrounding its groundbreaking features and their potential impact on the Ethereum ecosystem.

Bitcoin (BTC) Price Retreats Amid Gold’s Record Surge; Analysts Eye Re-accumulation Phase

Find out why Bitcoin's momentum stalled as gold soared to new highs. Explore expert insights on BTC's price trajectory and the significance of re-accumulation patterns.