Bitcoin hodlers moved $1.7B into ‘accumulation’ wallets during the BTC dip

More than 27,700 BTC — worth $1.75 billion at current prices — was sent to accumulation addresses in a single 24-hour period between April 16 to 17, a new daily record for Bitcoin, per the latest data from CryptoQuant.

The previous record — where 25,500 BTC was sent to accumulation addresses in a single day — was notched on March 23 this year, when the price of Bitcoin was also hovering around the $63,500 mark.

Data from source shows that there has been an elevated level of motivated buying around the $63,000 range — suggesting that large, dedicated investors maintain their confidence in accumulating and holding Bitcoin for the long term.