Addresses accumulating Bitcoin have cumulatively purchased 214,069 BTC over the past 30 days, reaching a new high of 387,305 BTC on November 5, up from 173,236 BTC on October 6. Accumulator addresses must have a minimum of two inflows within the last seven years, exclude CEX, miner, and smart contract addresses, and have no outflows.
On-chain data from CryptoQuant shows that the appetite for BTC among accumulator addresses has more than quintupled MoM. Average monthly BTC purchases jumped from 41,813 BTC (September 5 – October 6) to 214,069 BTC (October 6 – November 5), representing a 411.96% increase. Just yesterday alone, 30,913 BTC were added (from November 4 to November 5) by these addresses as the price of Bitcoin briefly dipped below the $100,000 mark.
Cryptopolitan previously reported that accumulator addresses are relatively old and have an average accumulation price of $64,000 per BTC. However, newer accumulator addresses are also added. Inflows to accumulator addresses in 2025 have exhibited a higher baseline, with more regular stacking.
CryptoQuant Analyst claims ETFs support the increased accumulation
A CryptoQuant analyst, operating under the pseudonym Darkfost, claimed that the growth of ETFs is likely accelerating this trend. The analyst observed that, although overall demand for Bitcoin has slowed, this is not the case for these investors. Some have no doubt and continue to fill their wallets, demonstrating that this trend is accelerating.
Data from SoSoValue indicates that aggregate Bitcoin spot ETF inflows have remained positive, attracting over $60 billion since their launch, although over $577 million was withdrawn in the latest trading session. Wintermute analysts claim that this redistribution of liquidity is one of the main reasons that the crypto market has stagnated.
The ongoing accumulation by these addresses reportedly aligns with increasing institutional adoption and confidence in Bitcoin. The record-setting accumulation also suggests strong demand for Bitcoin, reinforcing bullishness among these investors.
Institutional appetite has also reportedly surged. Bitcoin ETPs (exchange-traded products) and public companies had acquired 944,330 BTC by October 8, surpassing the total BTC purchased in the entire year of 2024. Approximately 338 entities, including 265 public and private companies, held over 3.8 million BTC as of September 30.
Tiger Research says institutional accumulation is rising
Tiger Research revealed in a recent report that institutional investors continue to accumulate Bitcoin despite volatility. The 14% crash on CEXs on October 11 confirmed that the Bitcoin market has transitioned from being retail-driven to institution-led. The report noted that institutions view this pullback as a healthy consolidation.
In the short term, cascade liquidations lower the average entry price for retail investors. They also increase psychological pressure, potentially increasing volatility through weakened sentiment. However, the report noted that this correction likely sets the stage for the next surge if institutions continue to enter during these sideways markets.
Institutional inflows have also remained strong, according to the report. Net inflows into Bitcoin spot ETFs reached $7.8 billion in Q3, although this was lower than the $12.4 billion in Q2. Meanwhile, consistent net inflows throughout the third quarter confirmed that institutional investors were steadily buying.
Tiger Research claims that the momentum has carried into Q4. The first week of October notably marked a new weekly inflow high for 2025, at $3.2 billion. Institutions are using price corrections as strategic entry opportunities.
Strategy (MSTR) continued to buy despite recent market corrections. The Bitcoin treasury added 220 BTC on October 13 and another 168 BTC on October 20, accumulating 388 BTC in a single week. According to the report, Strategy demonstrates its belief in the long-term value of Bitcoin, despite its short-term volatility.
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