Research: Bitcoin Minnows Are Fierce Fish

After January’s price correction, which seemed dramatic by many standards but par for the course for crypto traders, bitcoin "minnows" (which we are calling those that hold 0.1-10 BTC) began accumulating crypto at record speed.

According to a new report from Glassnode, these "minnows" also have a fierce appetite for pain and are hodling their crypto through some intense volatility and price compression even though their coins have yet to experience a breakout.

“This correction has been historically significant, suggesting the confidence and conviction of Bitcoin investors has been thoroughly tested,” Glassnode wrote. “What we have seen over the last 5-months is a 50%+ correction that appears to have significantly reshuffled the ownership structure of BTC. A great many Long-Term Holders with coins above $50k appear completely unfazed, whilst others have been totally shaken-out, at a historically significant rate.”

Some whales got shaken out but the minnows keep on swimming.