The post Bitcoin Price Eyes ATH as Shrimps Bag 10,000 BTC in Days appeared on BitcoinEthereumNews.com.
Bitcoin price continued to climb as small investors, known as “Shrimps,” added nearly 10,000 BTC USD to their holdings in just one week. The strong demand came as markets stayed steady and long-term holders took profits. Small Wallets Pile In as Bitcoin Price Builds Momentum Bitcoin price moved closer to its all-time high as wallets holding less than 100 BTC, known in the market as “Shrimps,” added nearly 10,000 BTC USD in just seven days. The update came from Glassnode, which tracks blockchain activity. These smallholders played a major role in the overall demand. Glassnode said the total monthly balance growth from Shrimp-to-Fish wallets (those holding under 100 BTC) was over 17,000 BTC. BTC Category Accumulations | Source: Glassnode That number was higher than the total new supply of Bitcoin, which was about 13,850 BTC for the month. This meant more Bitcoin was being taken off the market than created, mostly by smaller buyers. Despite a drop in trading activity since mid-July, interest remained strong. Spot volume fell from $10.22 billion on July 16 to $6.61 billion by August 7. Futures volume also dropped from $60.17 billion to $41.05 billion. Still, these levels were well above the lows from earlier in July. In a separate post on X, Ali Martinez, a crypto market analyst, noted that long-term holders sold about $44.5 million worth of Bitcoin over the last two days. If anything, this suggested that some investors who had held their coins for a while were now taking profits as the Bitcoin price soared. Still, this is happening simultaneously even as newer participants continue to buy. BTC USD Market Remains Calm as Risk Signals Stay Low Notably, as of August 1, Bitcoin price remained in what analysts called a “low-risk” zone. Bitcoin Vector, a market research group, said the coin…