Over the previous few days and weeks we’ve usually speculated on how rapidly the quantity of whale addresses of Bitcoin may be very rapidly growing which many would say is uncommon as we’re nonetheless in a bear market and with no sight of sunshine on the finish of the tunnel. However the extra baffling factor is how the quantity crab-addresses, that means addresses that hols 1-10BTC has hit a brand new ATH and is growing at high-speed.
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[Chart from OnchainCollege on Twitter](https://preview.redd.it/nec3k3t8844a1.jpg?width=900&format=pjpg&auto=webp&s=6406823752aefc1a1be580476d8848de71d19a1a)
As we are able to see from this visualization, not solely have the crab-addresses hit a brand new ATH however its additionally growing at velocity by no means seen up to now 4 years or ever (we don’t have the entire knowledge however it’s seemingly). We’re at over 800k crabs and can certainly be quickly at a complete 1M crabs.
That is distinctive as many would have although that particularly the smaller consumers have left the markets however that’s apparently not true. Particularly the common use of DCA as “the“ bear market technique seemingly modified that.
every time we reach our target we find a new one
If 1-10 btc is considered a crab I’m a Mycoplasma
DCA’ing and crabbing through the bearmarket!
I liked when they said it’s crabbing time
I will be crab soon for sure ????
I think another reason maybe because a lot of this were existing holders withdrawing from exchanges after FTX contagion?
I think some people see this as an opportunity to become a whole coiner, people who have been in crypto for a year or two but only managed to get small amounts are now filling their bags for the long haul.
Didn’t realise 1-10 BTC holders are called crabs… Thought it would’ve been something just slightly smaller than a whale like a shark or dolphin
*Crabs together strong!*
Crab season is back and stronger than ever.
I wish one day to be a crab!
I am but a krill, in this vast ocean…
Bottom in or not, current prices are cheap if you have patience so buying now is good decision.
We had bulls and bears, but now they have a new competitor, The Crab ????.
Crabs gonna take over
Even a whale can be devoured by millions of crabs.
Shitcoiners learned their lesson without having to go through 2 full cycles it seems.
One day I will be a crab, but for now it what am I, shrimp?
What about us crabs with .0003?? Don’t forget about us! Crab people unite!
small fish are seeing this as opportunities to become whole coiners, it’s great
Hopefully one day I’ll own one of those addresses
What animal am I if I have 0.003 BTC?
I wish I was a bitcoin crab
This is all I needed to confirm that crab szn is back
???? ???? ????
If 10 is a crab then 1000 must be an alien planet full of dragons
Crustacean Nation
That’s the only scenario I want to be a crab in
Well call me a crabs leg
Crab here. I agree.
I’m getting closer each week to hitting that whole coin then I’ll be an official crab ????
I wonder if this has more to do with people pulling funds off exchanges more than purchasing new funds.
This are really bullish news. People is accumulating.
Are we considering that people could be selling to get into the 1-10 category?
I’m not sure about the size of effect, but ex-Bitwala Nuri just ended service, and they had a setup where people could accumulate coins, but in the background those were managed in multiple smaller addresses, even for single purchases. In the last 1 month all their users had to leave the platform, which means many people who may had between 1-10BTC allocated over lots of addresses have now transferred their balance out to single addresses, consolidating lots of small to few bigger, but in reality it is not a change in the owner structure.
Not sure about the amount this could contribute to the effect.
Do people realize a those “crab” addresses could be larger entities spreading out their BTC to different addresses? There is no reason to put all your coins in a single wallet with a single point of failure when you can spread out your coins to different wallets. It’s not like every person has a single BTC wallet either. Because of this cohort on-chain data is not very useful.
It’s same thing when people confuse wallet in/outs with buying and selling. In/out just means transferring coins and does not mean a buy or sell.
Not sure when assumptions became reliable sources of anything quant related.
It’s highly likely these are fake wallets being used to manipulate the price of bitcoin or for other reasons of fraud.
For a very long time, 95%+ of transactions in Bitcoin have been “non-economic” (i.e. fraudulent) and are used as a means to manipulate its value and/or make exchanges appear to be more active than they actually are.
This can be disguised by creating a bunch of wallets and then using them all to “trade” via an automated system.
An institution couldn’t create a bot and management system that creates thousands of BTC addresses and then transfers BTC to them in order to run articles about retail buying back in and create an illusion of true holders. Totally.
I just posted something almost identical and got downvoted to 0, and this guy does it and gets 300 likes. I must be a loser or something
Are these wallet addresses in custody of individuals or do they represent the holdings of an exchange or hedge fund?
That means there are more people this time who will dump bitcoin the moment it reaches $40k – $50k – $60k+ range?