Whales and sharks accumulate 328K BTC in a month while Bitcoin experiences selling from inexperienced investors

Bitcoin is dividing investor sentiment as it approaches all-time highs, with larger players accumulating more coins. On-chain data from Glassnode reveals that Bitcoin whales and sharks are aggressively accumulating BTC at current prices. Whales, defined as entities holding 1,000 BTC or more, held around 84,000 BTC more than 30 days ago as of March 17. Sharks, defined as entities holding between 100 BTC and 1,000 BTC, increased their exposure by 244,000 BTC in the same period. In contrast, smaller investors with between 10 BTC and 100 BTC, known as fish, have been distributing their assets. According to Bitcoin Munger, smart money is buying while dumb money is selling. Despite the current price volatility, Bitcoin Munger remains optimistic, stating that the real excitement is yet to come in this price cycle. This article does not provide investment advice and readers should conduct their own research before making any investment decisions.