CryptoQuant's latest report shows that as of December 23, Bitcoin accumulation addresses have net added 225,280 coins this month, an increase of 82.6% month-on-month. During the same period, total seller liquidity (the number of Bitcoins available for sale on exchanges and ETFs) decreased by about 590,000 coins, with a sharp decline of 520,000 coins between December 22-23. The over-the-counter (OTC) supply dropped from 421,000 coins to 403,000 coins, and the liquidity inventory ratio fell from 12 months to 5.5 months.

It is worth noting that whale addresses holding more than 1,000 Bitcoins have reduced their holdings by nearly 8,600 coins this month, but short-term holders have reached a holding volume of 3.81 million coins, only 70,000 coins short of the historical peak.