Bitcoin accumulator addresses purchased over 375,000 BTC in 30 days, hitting an all-time high as whales add $3 billion amid extreme fear and macro headwinds.
Bitcoin accumulator addresses just set a new all-time high by purchasing over 375,000 BTC in 30 days, with more than 50,000 BTC added yesterday alone, according to CryptoQuant analysis.
The aggressive buying persists even as overall market demand has slowed, while Bitcoin hovers around $101,000 amid extreme fear and a 37-day government shutdown that’s draining $15 billion weekly from U.S. GDP.
Source: CryptoQuant
The monthly average for these long-term holder wallets has more than doubled in under two months, surging from 130,000 to 262,000 BTC.
Meanwhile, Bitcoin whales added nearly 30,000 BTC, worth approximately $3 billion, this week, contrasting sharply with retail panic and ETF outflows that have dominated headlines following BTC’s 20% pullback from its October all-time high of $126,198.
Market Signals Point to Accumulation Zone Despite Fear
Bitcoin’s MVRV ratio now stands at around 1.8, its lowest level since April 2025, indicating that the market value is approaching the average cost basis of investors.
Source: CryptoQuant
Historically, when the MVRV falls to the 1.8-2.0 range, it typically coincides with mid-term market bottoms or early phases of recovery.
At the same time, the Stablecoin Supply Ratio has dropped to its lowest point since the COVID-19 pandemic, indicating abundant dry powder ready to be deployed into BTC.
The Fear & Greed Index has also plunged to “Extreme Fear” territory, near 20, as over $1.7 billion in positions were liquidated in the past 24 hours, mostly from over-leveraged long positions.
Source: Alternativeme
However, exchange reserves continue to trend lower, which means coins are being withdrawn into self-custody rather than sold off, a behavior that historically aligns with stabilization phases.
The Realized Profit-to-Loss Ratio’s 90-day simple moving average sits at 9.4, marking a mild cooldown since July, yet still more than double the levels seen during the last two mid-cycle bear phases.
Source: Glassnode
Notably, on Binance futures, large support clusters have formed, with 700 BTC in limit orders sitting at $100,500. Meanwhile, a 1,000 BTC order at $102,000 was recently filled, which means institutions are still heavily participating.
Macro Headwinds Reshape Ownership Ratio
Bitcoin’s ownership structure has transformed dramatically as entity-scale holders surged their holdings 21.7% to 7.05 million BTC following spot ETF approval in January 2024, while retail holders reduced their balances by roughly 20% to 3.4 million BTC.
Uphold’s head of blockchain research, Martin Hiesboeck, attributes the shift to whales moving billions into regulated ETFs, drawn by tax advantages and easier access to institutional services, marking the first time self-custody may be declining in Bitcoin’s history.
