A recent report by CryptoQuant shows that large players control 61% of all Bitcoin (BTC). The report analyzed the distribution of unspent transaction outputs by their value using the UTXO Value Bands indicator. 

The analysis found that mid-sized players, Dolphins and Sharks, with holdings of 100-500 BTC and 500-1000 BTC respectively, control 29.57% of the market, while larger players, Whales, Humpbacks, and Megawhales with holdings of 1,000-5,000 BTC and 5,000-10,000 BTC, control 31.57% of the market.

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As a result, the movements of these players carry significant weight in the market, given that they collectively control 61.14% of all Bitcoin (BTC). Any sizeable purchases or sales of BTC by these entities can cause notable price fluctuations.

Do Smaller Investors Stand a Chance?

To put it simply, although large players currently dominate the Bitcoin (BTC) market, retail investors still have an opportunity to participate as they hold 38.86% of the market. This data suggests that there is still potential for growth and increased involvement of retail investors in the cryptocurrency market. Additionally, the cryptocurrency market has the potential for further expansion and diversification since it is still a relatively niche investment instrument.

According to the Bitcoin Address Balance Distribution by Cohorts, there are only 4151 wealthy wallets that control 31.57% of the market. This implies that despite the growing popularity of cryptocurrencies, the number of big players remains relatively small.

Furthermore, Bitcoin (BTC) is the only cryptocurrency that the SEC has declared would not be classified as a security. As a result, the asset is relatively free from the control of authorities. Bitcoin fell 2.8% in the last 24 hours and is currently experiencing resistance at approximately $28000 with support at $26926.

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