Bitcoin, from small investors to whales, everyone is increasing their holdings - consolidating at levels below the all-time high | CoinDesk JAPAN

• From small investors to whales, the accumulation trend score of all wallets is indicating a score of 1, suggesting that buying pressure is strengthening across the network.
• Even small to medium holders are accumulating 19,300 BTC every month, surpassing the monthly issuance of 13,400 BTC.

According to on-chain data from Glassnode, almost all groups of wallets, ranging from individual investors holding less than 1 BTC to institutional investors with over 10,000 BTC, are currently recording an overall Accumulation Trend Score of 1.

This score reflects the relative strength of the net accumulation over the past 15 days, adjusted for the size of the wallet and the activity of the entities. A score close to 1 indicates that the group is actively accumulating Bitcoin, while a value close to 0 indicates selling.

This unified buying behavior across almost all groups is relatively rare, with the last observations occurring in November 2024 and May 2025. In particular, smaller wallets, which are less than 100 BTC in holdings, play a crucial role in driving this trend. According to Glassnode data, wallets in the group referred to as "crabs" and those in the group referred to as "fishes" are acquiring Bitcoin at a rate of 19,300 BTC per month in total.

This level of demand currently exceeds the monthly issuance of new coins (only 13,400 BTC). Essentially, individual investors and medium-sized investors alone are absorbing over 100% of the new supply, creating a tightening effect on the available circulating supply.

|Translation and Editing: Rina Hayashi | Image: Accumulation Trend Score by Group (Glassnode) |Original: Bitcoin Consolidates Below Record High, With Everyone From Shrimps to Whales Accumulating

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