According to data from blockchain analytics firm Glassnode, a group of mid-sized Bitcoin holders has stepped up buying this week, taking in roughly 65,000 BTC over the past seven days.
At a spot price of $113,595, that haul equals about $7.35 billion. Reports have disclosed that these investors — wallets holding between 100 and 1,000 BTC — have pushed their monthly net accumulation to 93,000 BTC.
Those mid-sized holders a.k.a. “sharks” now control about 3.65 million BTC. That is roughly 18% of Bitcoin’s circulating supply, which is about 19.91 million coins.
The shift is striking because it removes a meaningful chunk of coins from the pool of easily traded supply. Less available BTC can change how quickly prices move when demand rises.
While these sharks are not the same as the very large institutional whales, their moves still affect market balance. Buying at this scale reduces liquid supply and can push prices up if fresh buying keeps coming.
Some market participants see the pattern as a sign of growing confidence among this class of investors. At the same time, it can raise short-term volatility: when a concentrated group holds more coins, their future decisions to sell or hold will matter.
Bitcoin’s run this year has been strong. Based on market tracker numbers, BTC has climbed about 100% over the past year, is up 23% year-to-date, and has gained over 40% over the past six months.
Price action has not been smooth, though. The market fell to about $107,000 on September first, then recovered to a little over $116,000 earlier today. At the time of writing, BTC was inching near $114,000.
Public forecasts have been bold. Strategy executive chairman Michael Saylor has suggested Bitcoin could top $150,000 by Christmas. Tom Lee of Fundstrat has forecast $200,000 by the same date.
This aggressive accumulation comes with caveats. Markets can reverse quickly. Large inflows into or out of ETFs, miner sell pressure, or a shift in macro conditions could halt the rally.
Also, heavy concentration in certain wallet groups can amplify moves if those groups change course. Investors should watch wallet flows, trading volumes, and major announcements that might tilt sentiment.
In short, the recent buying by mid-sized holders is a clear, measurable trend. It tightens the pool of coins available to trade and has coincided with strong price gains this year.
Featured image from Meta, chart from TradingView
