🚀🚀 Bitcoin enthusiasts, buckle up! The recent BTC correction might just be a blip on the radar as institutions seem to be seeing it as a prime buying opportunity, suggests on-chain data. 📈📊

CryptoQuant, a market intelligence platform, shared on Thursday that "institutions" (defined as Bitcoin wallets holding between 1000 BTC and 10,000 BTC) have been snapping up coins at their second-fastest rate this year since July began. Last week alone, these entities added a whopping 101,600 BTC to their blockchain addresses. 🏦💰

Unlike the demand seen in March, which was more linked to fundraising, the current institutional accumulation may indicate a real process of "buying the dip" among large players, says on-chain analyst Cauê Oliveira. 🕵️‍♂️💡

Meanwhile, short-term Bitcoin holders (those who've held their coins for between 1 and 3 months) have been selling off over the past month, especially last week when BTC dipped below $54,000. But don't fret! According to blockchain analyst El Crypto Tavo, this short-term holder capitulation is generally a good sign that investors should buy in. 📉🔄

So, while the market might be a bit shaky, it seems like the big players are still betting on Bitcoin. Stay tuned for more updates! 🚀🌕