Mid-to-Large Investors Accumulate 110K BTC in 30 Days — Biggest Surge Since FTX
Glassnode on-chain data (reported by CoinDesk) shows mid-to-large Bitcoin holders (addresses with 10–1,000 BTC) increased holdings by ~110,000 BTC over a 30-day window — the largest 30-day accumulation since the post-FTX period in November 2022. Overall addresses rose from ~6.4M to ~6.6M BTC across two months, a net increase of ~200,000 BTC; small holders (<1 BTC) added ~13,000 BTC in the same period. At current prices (~$69k/BTC cited), 110,000 BTC equals several billion dollars of capital. Key on-chain signs include exchange outflows, rising hodler net position, and shrinking exchange reserves. Network fundamentals remain strong (hash rate near highs) while macro factors — inflation, central-bank policy, and improving regulatory clarity — are cited as drivers. Analysts interpret the move as growing institutional conviction and broadening retail participation; reduced liquid supply on exchanges could dampen volatility and support upward price pressure. Traders should monitor exchange reserves, derivatives positioning, and macro correlation for confirmation. This accumulation historically prefaces sustained bull phases but does not guarantee immediate price spikes; risk management remains essential.
Bullish
Large, concentrated accumulation by mid-to-large holders (10–1,000 BTC) and concurrent inflows from small holders suggest growing demand and a reduction in liquid supply on exchanges. Key supporting signals — sustained exchange outflows, rising hodler net positions and strong network fundamentals — historically correlate with bullish multi-month trends and reduced downside volatility. The event being the largest 30-day accumulation since the FTX shock amplifies its significance: past similar accumulation preceded extended bullish runs (e.g., 2020–21). In the short term, price reactions may be muted if accumulation is gradual, but the diminished sell-side liquidity increases the potential for sharper rallies on positive catalysts. Risks remain: macro shocks, regulatory setbacks, or a reversal in derivatives positioning could negate gains. Traders should watch exchange reserves, futures/option skew, and large wallet movements to time entries and manage leverage appropriately.