The silent whales are back.
By Maxime Laurent · 2026-02-17 13:52
The silent whales are back.
Accumulation addresses are stacking ~373,000 $BTC per month — that’s not retail noise.
This is the kind of data that makes me lean back in my chair and just stare at the sea for a minute.
According to on-chain metrics from CryptoQuant, so-called “accumulation addresses” are absorbing around 373,000 BTC per month right now.
Let me repeat that.
Three. Hundred. Seventy-three. Thousand. $BTC.
In September 2024 — just before Bitcoin first pushed toward $100,000 — that number was around 10,000 BTC per month.
This isn’t a small increase.
It’s an order-of-magnitude shift.
And here’s what makes it even more interesting:
These addresses exclude known exchange wallets and miner addresses.
And they show no significant outflows.
Translation? This is long-term conviction behavior.
Accumulation addresses are typically wallets that:
– steadily receive BTC
– don’t sell
– aren’t linked to trading platforms
– aren’t miner distribution wallets
That smells like high-net-worth individuals, funds, possibly corporate treasuries. Strategic positioning.
Now, I’m not saying “price must pump tomorrow.” Markets don’t work like that. Liquidity, macro, derivatives positioning — all of that still matters.
But structurally? This is supply compression.
If 373,000 BTC per month moves into cold hands, that’s coins leaving the liquid arena. And $BTC’s issuance is fixed. No central bank. No surprise unlock.
It reminds me of late 2024. The calm before the narrative explosion.
Back then, accumulation was quiet. Then suddenly everyone on X was screaming “new ATH.” By the time headlines arrive, the positioning is already done.
This kind of on-chain behavior feels… deliberate.
Smart money doesn’t tweet.
It accumulates.
Ça sent la stratégie long terme. 🌊🔥
#Bitcoin #BTC #OnChain #Crypto #Accumulation #MarketStructure
Accumulation addresses are stacking ~373,000 $BTC per month — that’s not retail noise.
This is the kind of data that makes me lean back in my chair and just stare at the sea for a minute.
According to on-chain metrics from CryptoQuant, so-called “accumulation addresses” are absorbing around 373,000 BTC per month right now.
Let me repeat that.
Three. Hundred. Seventy-three. Thousand. $BTC.
In September 2024 — just before Bitcoin first pushed toward $100,000 — that number was around 10,000 BTC per month.
This isn’t a small increase.
It’s an order-of-magnitude shift.
And here’s what makes it even more interesting:
These addresses exclude known exchange wallets and miner addresses.
And they show no significant outflows.
Translation? This is long-term conviction behavior.
Accumulation addresses are typically wallets that:
– steadily receive BTC
– don’t sell
– aren’t linked to trading platforms
– aren’t miner distribution wallets
That smells like high-net-worth individuals, funds, possibly corporate treasuries. Strategic positioning.
Now, I’m not saying “price must pump tomorrow.” Markets don’t work like that. Liquidity, macro, derivatives positioning — all of that still matters.
But structurally? This is supply compression.
If 373,000 BTC per month moves into cold hands, that’s coins leaving the liquid arena. And $BTC’s issuance is fixed. No central bank. No surprise unlock.
It reminds me of late 2024. The calm before the narrative explosion.
Back then, accumulation was quiet. Then suddenly everyone on X was screaming “new ATH.” By the time headlines arrive, the positioning is already done.
This kind of on-chain behavior feels… deliberate.
Smart money doesn’t tweet.
It accumulates.
Ça sent la stratégie long terme. 🌊🔥
#Bitcoin #BTC #OnChain #Crypto #Accumulation #MarketStructure
Disclaimer: This content is for informational purposes only and not financial advice.