Despite expectations that Bitcoin (BTC) might dip below $60,000, recent accumulation trends suggest significant buying activity across various investor groups. Onchain data reveals that wallets containing between 1,000 and 10,000 BTC have collectively acquired over 53,000 BTC in the last 60 days, while smaller retail investors are also increasing their holdings.
Michael van de Poppe, founder of MN Capital, emphasized the record-low readings on the daily and two-week relative strength index (RSI) as a strong indicator for potential accumulation. He noted that smaller wallets, particularly those holding less than 0.1 BTC, recorded the highest Accumulation Trend Score at 0.78, followed closely by wallets containing 10–100 BTC with a score of 0.71.
However, larger Bitcoin holders show a contrasting trend. Entities with more than 10,000 BTC have decreased their holdings by 39,840 BTC over the same period, revealing a divergence in accumulation strategies. This mixed positioning reflects ongoing demand from smaller investors and mid-sized holders amid a backdrop of market volatility.