According to Glassnode data from April 18, "super large whales" holding more than 10,000 BTC are leading the market and maintaining an accumulation trend. On the other hand, small to medium holders of less than 1 BTC to 100 BTC have slowed down their selling pace, with those holding between 10 to 100 BTC shifting to accumulation. Additionally, large holders are currently absorbing more than 300% of the annual BTC issuance. Coinvo pointed out that new whales have surged since the end of 2024, buying Bitcoin at a record pace. Around 15,000 BTC (1.8 billion yen) has flowed out of exchanges, confirming that large holders are storing BTC off-market.