Glassnode data reveals: Bitcoin holders make a massive purchase over 30 days, led by medium and large buyers

Although Bitcoin has recently shown limited volatility in USD terms, on-chain data reveals a strong bottom-up demand signal. According to the latest tracking from the well-known on-chain analysis platform Glassnode, over the past month, mid-to-large holders—from high-net-worth individuals to institutional investors—have been aggressively accumulating Bitcoin at the fastest pace since the FTX collapse in 2022. What does this phenomenon potentially indicate? It warrants in-depth exploration.

Mid-to-Large Holders Exhibit Strongest Buying Momentum in 3 Years

Based on Glassnode data, in the past 30 days, the “Fish-to-Shark” group holding between 10 and 1,000 BTC has accumulated approximately 110,000 BTC. This cohort, composed of trading platforms, high-net-worth individuals, and institutional investors, has seen its monthly accumulation reach a new high since Bitcoin fell below $15,000 and was deeply affected by the FTX fallout.

Currently, the total holdings of this group have risen to nearly 6.6 million BTC, a significant increase from 6.4 million BTC two months ago. This figure reflects the continued optimism among core market participants regarding Bitcoin’s future prospects. Regardless of short-term USD price fluctuations, their buying activity has never ceased.

Retail Investors Also Accumulate Simultaneously, Multi-Tiered Buyers Join the Market

It is noteworthy that bottom-market demand is not solely driven by large players. Retail investors holding less than 1 BTC, often very sensitive to price swings, have also demonstrated notable buying strength in recent weeks. Data shows that this scattered group has accumulated over 13,000 BTC in the short term, reaching a new high since November 2023, bringing their total holdings to about 1.4 million BTC.

The simultaneous buying from both mid-to-large holders and retail investors across multiple tiers is rare. It indicates that the market is not driven by a single force but is forming a structural buying consensus from the bottom up.

Structural Bottom Demand Takes Shape—When Will the Market Rebound?

When different-sized holders are quietly accumulating, it often signals a silent re-pricing process underway. The phenomenon reflected in Glassnode’s data suggests that the Bitcoin market is quietly brewing a change.

However, whether this bottom-up demand can translate into the next upward cycle remains to be seen. What is certain is that when institutions, high-net-worth individuals, and retail investors are all buying Bitcoin simultaneously, internal buying power in the market is already quite substantial. The most pressing question for investors now may be: when will this patience-driven accumulation be rewarded with a clear USD price increase?