Bitcoin Hodlers Moved $1.7B to Accumulation Wallets When the Crypto Fell

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Despite the recent dip in the price of Bitcoin, hardcore holders of the digital currency remained undaunted as they added a staggering $1.7 billion worth of BTC to their accumulation addresses, breaking the previous record for a single day.

According to the latest data from CryptoQuant, over 27,700 BTC, equivalent to $1.75 billion, were transferred to these specialized wallets on April 16 and 17.

This surpasses the previous record of 25,500 BTC added to accumulation addresses in one day, set on March 23 when Bitcoin‘s price was also around $63,500.

This trend signals a strong inclination among large investors to buy and hold Bitcoin for the long term, even during periods of market turbulence.

Accumulation addresses are wallets with a balance of at least 10 BTC and no record of any withdrawals.

These addresses have been carefully screened to exclude those known to be linked to Bitcoin miners and exchanges.