Large Bitcoin holders are controlling the smallest share of the cryptocurrency’s supply since late May, accounting for about 68.04% of the entire Bitcoin supply. A dump of -81,068 BTC in the past 8 days has occurred, coinciding with a 27% decline in Bitcoin’s value from $90,000 to $65,000.

Crypto market participants are closely monitoring large Bitcoin holders for signs of accumulation or offloading, as these moves can indicate market sentiment. The Crypto Fear & Greed Index dropped to a score of 9 out of 100, its lowest since mid-2022, suggesting overall caution in the market.

While large holders are selling off Bitcoin, retail investors are aggressively accumulating the cryptocurrency, creating a potential bear cycle. “Shrimp wallets,” holding less than 0.1 Bitcoin, have reached a 20-month high, accounting for 0.249% of Bitcoin’s total supply, equivalent to roughly 52,290 Bitcoin.

Bitcoin is currently trading at $64,792, down 29.62% over the past 12 months. Questions arise about selling Bitcoin for nickels for a 43% profit. Cointelegraph follows an Editorial Policy to provide accurate and timely information for readers to verify independently.

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