The differences in address behaviors at different levels are noticeable:
Addresses at the shrimp and small fish levels (small investors with less holding) have shown a net outflow of Bitcoin over the past 6 days and 30 days, possibly because small investors choose to sell for profit or reduce their holdings during market fluctuations. Although addresses at the shark level have slightly decreased over the past 6 days, they have experienced a net increase over 30 days, indicating a potential short-term position adjustment, but they remain optimistic about Bitcoin in the long term. Whale-level addresses (large investors) have significantly increased their Bitcoin holdings both in the past 6 days and 30 days, demonstrating the confidence and willingness of large investors to invest in Bitcoin for the long term.
The impact of market fluctuations on different investors:
From a daily change perspective, all address levels have experienced varying degrees of volatility, especially at the shark level, where daily increases and decreases are significant, indicating that medium-sized investors are relatively active in trading and are greatly influenced by market sentiment. Conversely, whale-level addresses have mostly been increasing their holdings, with only a small decrease on 2025-06-24, showing that their investment behavior is relatively stable, with a greater focus on long-term trends.
The relationship between long-term trends and short-term fluctuations:
The shark level has accumulated an increase over 30 days but a decrease over 6 days, indicating that short-term market fluctuations may lead to temporary changes in the positions of medium-sized investors, but in the long term, they are still accumulating Bitcoin. This also reminds investors that when analyzing the market, they should not only look at short-term data but should also consider long-term trends to judge the true direction of the market.
📊 Key Changes in Bitcoin Holdings on June 26, 2025
Addresses (sharks, whales) continue to accumulate, while small addresses continue to sell off, potentially leading to decreased market liquidity, with future price fluctuations possibly being more susceptible to manipulation by large capital.
🐳 100+ BTC Giant Whales: +738 BTC (🚀 Two-day buying spree of 3488 BTC) 🦈 10-100 BTC Sharks: -982 BTC (📉 Two consecutive days of selling 2633 BTC) 🐟 1-10 BTC Small Fish: +471 BTC (✨ Strong inflow in a single day) 🦐 <1 BTC Shrimps: -96 BTC
1. Distribution Characteristics of Holdings
Whales dominate the market: Addresses holding 100+ BTC (whales) possess 12.1209 million BTC, accounting for 54.6% of the total data (assuming the total data is the sum of all four), indicating that Bitcoin is highly concentrated in the hands of a few large investors. Small and medium addresses show dispersed holdings: Shrimps (<1 BTC) and small fish (1-10 BTC) together hold 3.4529 million BTC, only accounting for 15.6% of the total data, reflecting that small investors have a relatively small holding scale.
2. Short-term (6 Days) Change Trends
Mainly small addresses selling off: Shrimps and small fish have cumulatively reduced by 882 and 367 BTC respectively over 6 days, with most days showing net outflows (for example, shrimps only increased by 3 BTC on June 24), which may suggest that small retail investors are cashing out or transferring assets. Large addresses increasing their holdings against the trend: Whales and sharks have cumulatively increased by 2717 and 126 BTC respectively over 6 days, especially whales who increased their holdings by 2750 BTC in a single day on June 25, indicating that large capital is absorbing chips at lower prices.
3. Mid to Long-term (30 Days) Trend Comparison
Polarization intensifies: Small addresses have cumulatively outflowed over 10,000 BTC in 30 days (shrimps -1995 BTC, small fish -8178 BTC), while large addresses have cumulatively inflowed over 20,000 BTC (sharks +13,900 BTC, whales +8593 BTC), indicating that market chips are concentrating from retail investors to institutions/large holders. High activity of sharks: Sharks increased their holdings by 13,900 BTC in 30 days, far exceeding the 8593 BTC of whales, possibly reflecting that medium-sized investors are more optimistic about market prospects or are conducting swing trading.
4. Daily Volatility Analysis
Key operations by whales: On June 25, whales increased their holdings by 2750 BTC, while sharks reduced their holdings by 1651 BTC, possibly corresponding to a market event (such as price fluctuations or policy news) leading to arrangements by large capital. Small fish short-term rebound: On June 26, small fish increased their holdings by 471 BTC in a single day, the only positive growth in nearly 6 days, possibly indicating short-term speculative capital entering the market, but overall it still does not change the outflow trend over 30 days.
📊 Key changes in Bitcoin holdings on June 25, 2025 🐳 100+ BTC whales: +1232 BTC (🔥Strong counterattack) 🦈 10-100 BTC sharks: -558 BTC (📉End of 5-day increase) 🦐 <span BTC shrimp: -233 BTC 🐟 1-10 BTC small fish: -201 BTC 👉 Whales swept 1232 BTC in a single day and reversed the downward trend! Sharks ended continuous increase and turned to cashing out!
Whales continue to reduce holdings, while sharks accelerate buying to form a 'long-short hedge'
Whale addresses (100+ BTC):
On June 25, a single-day reduction of 583 BTC, on June 24, a reduction of 1,182 BTC, totaling a reduction of 1,765 BTC over two days, directly causing a shift from +488 to -1,079 BTC over 6 days, showing a trend reversal from 'increase to decrease'. Although the 30-day cumulative increase is still +6,282 BTC, it has significantly shrunk from the previous value (+7,690), indicating that large funds may be taking profits or adjusting positions in the short term, and attention should be paid to the impact of continued selling on market confidence.
Shark addresses (10-100 BTC):
On June 25, an increase of 669 BTC, on June 24, a surge of 1,609 BTC, totaling an increase of 2,278 BTC over two days, accounting for 65% of the 6-day cumulative +3,497 BTC, showing that medium-sized investors are actively buying when whales are reducing their holdings. The 30-day cumulative increase of +17,051 BTC has further expanded from the previous value (+16,583), validating the trend of medium to long-term institutions or professional investors continuously accumulating, possibly related to 'diversification strategy' (large funds splitting into medium addresses) or low-position layout.
Small addresses (Shrimps, Small Fish) have slowed down their reductions, but medium to long-term outflow has not stopped
Shrimp addresses:
On June 25, an increase of 78 BTC, on June 24, an increase of 3 BTC, showing a slight recovery over two consecutive days, bringing the 6-day cumulative reduction to -455 BTC (previous value -590), indicating marginal improvement in sentiment among small holders, possibly stimulated by short-term price rebounds. However, the 30-day cumulative reduction of -1,395 BTC, slightly narrowed from the previous value (-1,442), still shows a continuous exit state.
Small Fish addresses:
6-day cumulative reduction of -473 BTC, slightly expanded from the previous 6-day period (-379), mainly due to the new reduction of -147 BTC on June 25, indicating that 1-10 BTC holders are still selling, but the daily reduction amount (147 BTC) has significantly decreased compared to earlier peaks (such as June 19 - 3,104 BTC), showing that selling pressure is gradually easing. The 30-day cumulative reduction of -9,694 BTC, narrowed from the previous value (-10,121), may suggest that the selling pace of small and medium investors is slowing down, but medium to long-term confidence has still not recovered.
Whale Addresses (100+ BTC): On June 24, a single-day reduction of 2110 BTC, marking the largest single-day change in nearly 6 days, directly causing the 6-day cumulative increase to drop from +2809 (previous value) to +488.
This behavior may stem from:
Short-term profit-taking: Reducing holdings after accumulating increases in earlier periods;
Position adjustment: Fund transfer to other investment targets or stablecoins;
Market hedging: Defensive actions against uncertainties in the short-term market.
📊 Key changes in Bitcoin holdings on June 23, 2025: Whales’ tactics paused
🦈 10-100 BTC Sharks: +750 BTC (🔥Single-day peak) 🐳 100+ BTC Whales: +5 BTC 🐟 1-10 BTC Small Fish: -272 BTC 🦐 <span BTC Shrimp: -128 BTC 👉 Sharks’ violent accumulation of funds hit a new high within the month, Whales stopped increasing their holdings, and small and medium-sized households accelerated their escape!
In-depth analysis of key trends
Sharks are buying like crazy: A surge of 750 BTC in a single day (the second largest single-day increase in 30 days) 4549 BTC in 6 days, +17,012 BTC in 30 days Total holdings exceeded 4.3 million (4,308,352 BTC)
Whales paused: Ended 3 consecutive days of holdings (+897 BTC in the first three days) 30 days still net increase of 7,388 BTC, holdings remained above 12.1 million
Panic spread among small and medium-sized households: Small fish sold 272 BTC in a single day (the fourth reduction in 5 days)
Shrimp outflowed 888 BTC in 6 days Two types of addresses reduced holdings by 11,584 BTC in 30 days
Market polarization intensified:
Sharks increased holdings in 6 days (4549 BTC) ≈ Small fish + Shrimp reduced holdings in 6 days (4411 BTC) 103% Showing that large investors are taking over the selling pressure from retail investors