Long-term holders of Bitcoin (BTC) are accumulating at a pace not seen before, with monthly buying from so-called accumulator addresses surging to around 372,000 BTC — up from just 10,000 BTC per month in September 2024.
What Happened: Record BTC Accumulation
Darkfost, a CryptoQuant analyst, flagged a sharp rise in demand from accumulator addresses — wallets that consistently buy and hold Bitcoin without recording outflows. His chart shows monthly accumulation climbing from roughly 10,000 BTC in September 2024 to approximately 372,000 BTC currently, a near-37-fold increase.
CryptoQuant defines accumulator addresses using a specific set of criteria: no outflows, a minimum BTC purchase in the latest transaction, at least two separate inflow events, a minimum total balance, and activity recorded within the past seven years. Known exchange wallets, miner addresses, and any addresses interacting with smart contracts are excluded from the dataset to reduce distortion.
Darkfost noted the identification process is thorough but not exhaustive — centralized exchanges or miners operating outside flagged addresses may not be fully captured.
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Why It Matters: Supply Squeeze Signal
Darkfost argued that the scale of recent accumulation is unprecedented, with a large portion of Bitcoin being consistently removed from circulation. As buying pressure grows while available supply contracts, the analyst said conditions could become favorable for an upward price move.
He added that Bitcoin's recent price decline appears to have prompted these long-term holders to accelerate purchases rather than reduce them — a pattern that has historically coincided with stronger market performance. Their buying, he suggested, may act as a stabilizing force and an early signal of a potential rebound.
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