The Sharks have sent Bitcoin (BTC) above $115,000. Can it stay there?

A group of large investors known as “sharks” bought 65,000 BTC in just a week. Bitcoin price recovered to above $115,000 in two weeks

Typically, sharks have between 100 and 1,000 BTC in their wallets. They are not as powerful as whales, but their activity can still influence the market dynamics. These inhabitants of the crypto seas have already attracted the attention of the community when they bought bitcoin at around $112,000.

According to CryptoQuant, the Bitcoin market is seeing a marked divergence in investor behavior, with short-term traders reacting to price fluctuations by selling off while larger holders continue to accumulate the asset.

Bitcoin: Net Flow to Exchanges. Source: CryptoQuant

Over the past week, so-called “shark wallets” have increased their holdings by 65,000 BTC , bringing the total to a record 3.65 million BTC . This coincides with a rise in the net long-term holders (LTH) position, with the 30-day figure moving into the green for the first time in two months.

This trend is confirmed by outflows from centralized exchanges. Investors are moving coins to cold wallets, reducing the supply on the market. This suggests that large players are betting on long-term growth, rather than short-term speculation.

Bitcoin: Change in Net Long Holder Position Source: CryptoQuant

Analysts at XWIN Research Japan warn that short-term corrections are still possible, especially if leverage in the derivatives market gets too hot. But overall, they believe that beneath the surface volatility, the foundations for Bitcoin’s next big bull run are forming.

Source: cryptonews.net