Bitcoin investors accumulated over 375,000 BTC in a month.
- Addresses that accumulate Bitcoin have added more than 375,000 BTC to their holdings over the past month, CryptoQunt reported.
- On November 5, they purchased more than 50,000 BTC.
Addresses accumulating Bitcoin have reached a new all-time high in purchase volumes. Over the past 30 days, they have purchased over 375,000 BTC, according to CryptoQuant analysts. On November 5 alone, this figure exceeded 50,000 BTC.
https://twitter.com/cryptoquant_com/status/1986358813826687246
“While overall demand has slowed, this hasn't been the case for this category of investors. In less than two months, their average monthly buying activity has more than doubled—from 130,000 to 262,000 BTC, demonstrating an accelerating trend,” the analysts noted.
CryptoQuant clarified that the category of “storage addresses” includes wallets that meet the following criteria:
- no outgoing transactions;
- a certain amount of bitcoins purchased in the last transaction;
- minimum two purchases;
- the address must hold a minimum amount of bitcoins;
- transaction activity over the past seven years;
- addresses of well-known centralized exchanges and miners are excluded;
- no smart contract addresses.
These criteria allow such addresses to be considered close to long-term holders. Some of them not only aren't reducing their positions but are continuing to actively buy Bitcoin, CryptoQuant noted.
Analysts believe the increased demand from such market participants may be linked to institutional activity, particularly the increased interest in Bitcoin spot ETFs, whose volumes continue to grow.
As a reminder, Samson Mo, founder of the infrastructure company Jan3, previously stated that a true bull market for Bitcoin has not yet arrived.
Source: cryptonews.net
