Glassnode noticed that the number of whales is regularly increasing, institutional investors are constantly buying bitcoin. They buy bitcoin for a long time and are not going to panic with any correction.
Ask yourself, "What species can you be?"
It’s kind of fun going through the classifications, but as usual we all cannot tell whether it is right or not. Just as you have described it, one address can be holding funds from multiple individuals and some individuals are holding their funds in different addresses, just like me, I don’t hold my coins in one address, they are all stored in different addresses.
I believe that there are people who will own huge amount that will be divided and kept in different addresses and wallets for safety purposes, and since you can’t tell the owner of an address you can’t tell how many addresses that they own.