Recently, I noticed an interesting thing in the market — long-term investors (LTH) are accumulating Bitcoin quite actively during this correction phase. Specifically, they have bought an additional 212,000 BTC over the past 30 days, equivalent to over $14 billion. While retail traders are panicking and selling off, these whales are taking the opportunity to accumulate more.

I checked data from CryptoQuant and found that the Change Net Position indicator clearly shows this trend. Wallets that have held BTC for at least 150 days are returning to buy during the price correction. Even more interesting, institutions are not left out — Bitcoin ETF funds have bought into $1.5 billion worth of BTC in just the recent five trading days, and yesterday, one fund recorded a net inflow of $458.2 million.

What really caught my attention is the difference between retail investors and large funds. Since the peak in October last year, retail investors have been withdrawing from BTC positions, but 17 out of the 25 largest investors have increased their holdings. This indicates that experienced players are intentionally accumulating BTC, even though the current price is around $78,000. Usually, when major holders start accumulating like this, it’s a positive sign for subsequent bullish phases. Anyway, time will tell whether this group is right.