The Crab cohort generally describes retail sized investors by wealth, whom either have larger capital allocations, and/or have been accumulating over multiple years. Given Bitcoins grassroots and retail dominated history, this cohort consists of many well informed, albeit retail sized investors (the HODLers).

Like the Shrimp, this cohort can be quite responsive during downwards price volatility, often experiencing a negative balance change during high volatility sell-off events. Overall, the crab cohort has been a consistent long-term accumulator.

This chart presents the following traces:

• 🟠 Total balance held by Crab Cohort (line trace)
• 🟥 30-day net-position change of Crab Balance (area trace)

Note: Entities will likely overlap with the Shrimp cohort (< BTC) due to holders who exercise good privacy practices and UTXO coin control (i.e. do not combine and cluster their UTXOs, but acquire 0.1 BTC+ lots regularly).

Further References

For more information on Bitcoin supply distribution and various wallet balance cohorts, see our previous research.