Bitcoin Accumulation Addresses Jump 101% to 262,000 in Two Months

Recent data from CryptoQuant indicates a significant rise in the number of addresses holding Bitcoin [BTC](https://holder.io/coins/btc/), now at 262,000, doubling from 130,000 within two months.

Increase in BTC Accumulation

  • Accumulating addresses reached record levels, with over 375,000 BTC accumulated in a 30-day period.
  • On November 5, more than 50,000 BTC were added by large addresses.
  • These accumulator addresses typically do not sell but continue to purchase more BTC.
  • Characteristics include having made transactions in the last seven years and excluding known CEX, miner, and smart contract addresses.

Impact of Bitcoin ETFs

  • The growth of Exchange Traded Funds (ETFs) is believed to be accelerating this trend.
  • However, Bitcoin ETFs recorded a net outflow of $186.5 million on November 4, as BTC prices fell to $104,000.
  • Short-term holders have been selling since October 10, challenging sustained growth in the Bitcoin ecosystem.
  • Current Bitcoin trading price is $102,884.51, with a 0.96% increase in 24 hours.