Bitcoin (BTC) Accumulation Addresses Double to 2.9M as Institutional Interest Surges

The total amount of Bitcoin held in accumulation addresses has surged to over 2.9 million BTC, doubling from 1.5 million at the beginning of the year.

Bitcoin has seen a remarkable surge in the total amount of BTC held in accumulation addresses, which has now reached over 2.9 million, according to data from CryptoQuant. At the beginning of the year, these addresses held around 1.5 million Bitcoins, but this number has surged to 2.9 million in just 10 months.

This significant increase in BTC accumulation is highlighting a growing interest in Bitcoin, both from institutional and retail investors who are strengthening their positions in the market.

As Bitcoin consolidates around its previous all-time high, more than 320,000 active addresses are also engaging within this critical price range, according to data from IntoTheBlock.

Of these addresses, 220,000 have an average acquisition price around $68.5k, which could be indicating strong support and interest in Bitcoin at this price range.

Meanwhile, institutional interest in Bitcoin has been particularly evident with BlackRock making headlines last week for purchasing 16,975 BTC, valued at approximately $1.17 billion, according to data from Lookonchain.

This move helped push the price of Bitcoin up by over 8% within a week, in a bullish sign as big players are once again betting heavily on the future of the world’s largest cryptocurrency.

Bitcoin Spot ETFs also recorded massive inflows, totaling $2.13 billion last week, which ranks as the third-largest inflow in history, according to data from Wu Blockchain.

BlackRock ETF IBIT had an impressive net inflow of $1.14 billion, while Fidelity’s Bitcoin ETF FBTC also attracted $319 million in net inflows.

These investments are highlighting growing confidence from institutional investors in Bitcoin's long-term potential, which is further boosting market sentiment.

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