The Biggest Fish Is Accumulating Bitcoin: The Strongest Buying Wave Since the FTX Collapse

A significant turning point is occurring in the cryptocurrency market. The largest investors, known as the big fish, have accumulated coins at a record level over the past month. This activity signals the strongest monthly buy signal seen since the FTX collapse in 2022 and indicates a renewed widespread confidence in the market.

The Big Fish: The Return of Institutional Investors

According to Glassnode data, wallets holding between 10 and 1,000 BTC — known in the industry as the Fish-to-Shark cohort, representing institutional and high-net-worth investors — have accumulated approximately 110,000 coins in the last 30 days. This accumulation rate represents the highest monthly increase observed since Bitcoin dropped to around $15,000 three years ago.

Investors in the big fish category currently hold a total of 6.6 million BTC. This figure shows an increase from the 6.4 million level two months ago. Notably, this accumulation occurred within a narrow price range, roughly 25% below Bitcoin’s all-time high in October 2025 and about 15% above the $80,000 bottom level in November. Investors are choosing to increase their positions in this environment, where the market has not yet completed price discovery.

Retail Investors Join In: Broad-Based Accumulation Trend

The buying pressure from large investors is not alone. The smaller investor category, represented by the Shrimp cohort — those holding less than 1 BTC — has accumulated 13,000 Bitcoin in recent weeks. This amount marks the largest retail investor accumulation movement since the end of 2023. Investors in the Shrimp category have increased their collective holdings to approximately 1.4 million coins.

This simultaneous buying behavior from both the big fish, the institutional investors, and the retail segment sends an important signal. The fact that different market segments are strengthening their positions at the same time suggests a broad-based value discovery opportunity and indicates consensus across all market layers regarding Bitcoin’s fundamental value.

Long-Term Positioning Strategy Amid Volatility

While recent weeks of stagnant price movements test the patience of many investors, both large and small asset holders see this consolidation as an opportunity. Emotional indicators such as the widely used fear and greed index remain near fear levels, but the increase in Bitcoin purchases shows that professional investors are acting based on technical analysis and fundamental valuation criteria rather than emotion.

This wave of accumulation, considering the cautious behavior of the big fish following the 2022 FTX scandal and subsequent market decline, suggests that current buying pressure indicates investors are beginning to regain confidence in Bitcoin’s economic design and long-term store of value narrative.

Market observers suggest that if this accumulation trend continues, Bitcoin’s potential to reach higher levels increases. This institutional-level buying activity, often referred to as the actions of the big fish, is seen as a sign that the cryptocurrency market is evolving toward a more mature and stable structure by 2025.