Although macroeconomic uncertainties and technical signals cast some doubt on bitcoin’s (BTC) recent advancements, the buying behavior of major investors suggests a more hopeful perspective.
Since March 11, large-scale bitcoin holders have acquired more than 129,000 BTC, valued at $11.2 billion based on the current market price of $87,500, as per data from a blockchain analytics company Glassnode.
This represents the highest accumulation rate since August 2024, reflecting an increasing confidence in the leading cryptocurrency among key market players, according to commentary on X from Glassnode.
BTC has regained stability after dipping below $78K about two weeks ago. This rebound has been fueled by accommodating remarks from the Federal Reserve and optimism that the upcoming Trump tariffs on April 2 will be more moderate than anticipated.
Analysis from Glassnode indicates that addresses holding over 10,000 BTC are compensating for ongoing sales by smaller investors.
Additional metrics, like the “Bitcoin 1Y+ HOLD wave,” monitored by Bitbo Charts, indicate a resurgence, suggesting a transition towards a holding strategy, as noted in the latest issue of the Crypto Daybook Americas.