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8 Mar 2024

It's starting to feel a bit more crowded

Source: mayhem4markets

5 Dec 2023

Bitcoin wealth concentration issue: as shown below, 2.08% of existing Bitcoin holders (adresses) owns almost 93% of coins currently in circulation

Is the analysis oversimplified? what will happen if several ETF spot bitcoin ar approved and large asset managers become forced buyers? As show below, a small number of adresses owns the vast majority of BTC currently in circulation. However, some analysts believe that this table is misleading. For instance, glassnode highlighted that the table below does not factor in custodians, lost coins, and wrapped BTC. Adjusting these numbers might get you below 50% of concentration for the top 2% adresses, which is still high but much better than the current global wealth distribution. Still, this raises the question about how big will the supply/demand imbalance be the day several Bictoin spot ETF are approved. Indeed, asset managers will become forced buyers of an asset which is indeed quiet scarce. It is however possible that some "wwhales" might take advantage of rising demand and price increase to offload some of the BTC they have been hodling. Time will tell.

23 Nov 2023

Hedge Fund Position Concentration hits all-time high 🚨 i.e. everyone chasing the same trades - Mag 7

Source: Barchart, Goldman Sachs

24 Jul 2023

J.P. Morgan Kolanovic & Dubravko -> The recent rise in market cap concentration has been the steepest on record based on >60 years of history

Even narrower leadership than seen during the TMT Bubble. Source: Seth Golden


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