Bitcoin: How much influence can these investors hold

closeup hand holding gold bitcoin money background scaled

Bitcoin is speculated to have a major bull run this year. But the question remains – who really is heading this rally? When compared to the previous bull market some interesting observations can be seen.

Bitcoin follows who?

Back in 2017, it was whales. Whales led the bull market of 2017, which placed BTC from $990 to $13,400. This year that leader needs to change as the entity which should be leading the bull market needs to be you and me – the retail investors. In the last 7 months, Bitcoin has become a major store of value.

However, in order to become a stable and sustainable currency of the future, it will need increased participation from retail investors. Organic growth is the only way it could last long and become a viable option as a legal tender in the future. And surprisingly such is the case.

 Bitcoin Address distribution by concentration | Source: Intotheblock – AMBCrypto

Currently, retail investors are dominating the market. In terms of addresses, whales have a mere concentration of 1.53%, whereas retail holders have an 88.64% dominance today. At the same time when it comes to balance, these whales only have 288k cumulatively. 

Are retail investors participating though?

On exchanges, it can be seen that selling is active in the market. At the moment, whales’ balance is close to its all-time high. Whale addresses possessing 100-10k BTC hold 49.1% of Bitcoin’s supply. This shows that selling from their end is close to none.

Bitcoin whales balance at an all-time high | Source: Santiment

Since whales aren’t selling, naturally, all the selling witnessed in the market comes from the retail section. This is a strong sign of participation. And talking about participation, for the retail sector to be successful, Zero Balance Addresses (ZBA) need to come down.

Presently addresses with balance come up to 35 million while ZBA is at 838 million. This dominance ruins the potential for any serious growth of the retail section which is crucial to the bull run.

Bitcoin zero balance addresses stand at 838 million | Source: Intotheblock – AMBCrypto
Ronnie Huss

Ronnie Huss

Leave a Reply

Your email address will not be published. Required fields are marked *

Share:

Share on telegram
Share on facebook
Share on twitter
Share on linkedin
Share on whatsapp

Related Posts

bitcoin
Bitcoin (BTC) $ 68,570.37
ethereum
Ethereum (ETH) $ 3,777.28
tether
Tether (USDT) $ 0.999268
bnb
BNB (BNB) $ 595.94
solana
Solana (SOL) $ 168.64
staked-ether
Lido Staked Ether (STETH) $ 3,773.14
usd-coin
USDC (USDC) $ 0.999582
xrp
XRP (XRP) $ 0.521819
dogecoin
Dogecoin (DOGE) $ 0.161133
cardano
Cardano (ADA) $ 0.449518
shiba-inu
Shiba Inu (SHIB) $ 0.000027
the-open-network
Toncoin (TON) $ 6.49
avalanche-2
Avalanche (AVAX) $ 36.62
chainlink
Chainlink (LINK) $ 18.31
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 68,503.35
tron
TRON (TRX) $ 0.111548
polkadot
Polkadot (DOT) $ 7.07
bitcoin-cash
Bitcoin Cash (BCH) $ 469.25
uniswap
Uniswap (UNI) $ 10.77
near
NEAR Protocol (NEAR) $ 7.46
matic-network
Polygon (MATIC) $ 0.703041
litecoin
Litecoin (LTC) $ 84.30
pepe
Pepe (PEPE) $ 0.000015
fetch-ai
Fetch.ai (FET) $ 2.26
internet-computer
Internet Computer (ICP) $ 12.22
leo-token
LEO Token (LEO) $ 5.96
dai
Dai (DAI) $ 0.999729
wrapped-eeth
Wrapped eETH (WEETH) $ 3,926.96
ethereum-classic
Ethereum Classic (ETC) $ 30.16
aptos
Aptos (APT) $ 9.23
render-token
Render (RNDR) $ 10.31
renzo-restaked-eth
Renzo Restaked ETH (EZETH) $ 3,729.43
hedera-hashgraph
Hedera (HBAR) $ 0.101793
dogwifcoin
dogwifhat (WIF) $ 3.48
cosmos
Cosmos Hub (ATOM) $ 8.59
immutable-x
Immutable (IMX) $ 2.23
arbitrum
Arbitrum (ARB) $ 1.14
kaspa
Kaspa (KAS) $ 0.138672
mantle
Mantle (MNT) $ 0.998714
filecoin
Filecoin (FIL) $ 5.82
crypto-com-chain
Cronos (CRO) $ 0.116943
stellar
Stellar (XLM) $ 0.106358
ethena-usde
Ethena USDe (USDE) $ 0.999440
the-graph
The Graph (GRT) $ 0.308073
first-digital-usd
First Digital USD (FDUSD) $ 0.998001
blockstack
Stacks (STX) $ 1.99
arweave
Arweave (AR) $ 43.55
bittensor
Bittensor (TAO) $ 408.97
okb
OKB (OKB) $ 45.42
optimism
Optimism (OP) $ 2.49