Accumulation Mode? Bitcoin Holders Quietly Amass 4.37M BTC As Bull Signal Emerges

Bitcoin's active address momentum has reached its lowest point since April 2018, indicating reduced short-term trading activity. A separate network health index, however, has entered a bull phase for the first time in approximately a year. This divergence suggests a market driven by long-term holders focused on accumulation. The decline in active address momentum reflects shrinking user participation since July 2025. Data indicates long-term and retail investors are steadily increasing their Bitcoin holdings. Accumulating address cohorts now hold significantly more Bitcoin than in early 2024. Exchange inflows have dramatically decreased compared to the previous growth cycle. The reduced coin circulation on exchanges is tightening the available supply. The network activity index measures transaction counts and throughput, confirming a bullish signal. This market behavior is characterized by accumulation rather than broad network usage. Bitcoin's price rose to $72,045 at the time of publication, reflecting these market dynamics.