accumulation

BitcoinTreasuries.NET posted on platform X that pre-market trading has begun, and Strive's SATA has launched a Bitcoin accumulation plan.SATA has raised enough funds this week to purchase over 300 Bitcoins, with STRC maintaining above $97.5.

The rebound in the cryptocurrency market has prompted companies to increase their allocation of crypto assets. As the price of Bitcoin rises, Bitcoin mining companies that had actively shifted towards AI businesses have once again become high-beta targets in the BTC market, and the strategy of directly holding Bitcoin on corporate balance sheets has regained market attention. Data shows that Bitcoin rose by about 23% by the end of August, with some mining companies' stock prices increasing by 41% to 67%, outperforming several AI infrastructure companies. The market believes that the U.S. Treasury's expansion of bond repurchases, the White House's positive signals on crypto regulation, and the liquidation of over $1.6 billion in short positions have collectively driven the rise of related assets.In terms of corporate accumulation, Strive purchased 1,800 BTC in the last week of August, costing about $143 million, increasing its total holdings to 23,156 BTC, making it the fifth largest publicly traded company holder of Bitcoin; Strategy simultaneously increased its holdings by 4,603 BTC, with total holdings exceeding 845,000 BTC. Meanwhile, 21 large financial institutions, including Bank of America, Goldman Sachs, and Citigroup, plan to establish a new company and intend to launch a U.S. dollar stablecoin in the first half of 2027, subsequently expanding to other G7 currencies for cross-border payments and digital asset settlements.Regarding Ethereum, Bitmine has continuously increased its ETH holdings for 65 weeks, with the latest holdings exceeding 5.9 million ETH, accounting for 4.9% of Ethereum's circulating supply of about 120.7 million ETH, just one step away from its 5% holding target. Despite the continuous accumulation, the company's current ETH holdings still face an unrealized loss of about $5.1 billion.

According to Cointelegraph, Strategy has raised $20.9 billion this year through stock issuance to support its Bitcoin accumulation strategy, becoming the fourth largest stock issuer in the United States this year.

Analyst Ted (@TedPillows) stated that the Coinbase Ethereum premium has turned positive, indicating that institutions are accumulating. In related discussions, market participants noted that a positive premium means that U.S. demand is beginning to re-emerge, and Ethereum is showing some strength.The Coinbase premium is typically used to measure the premium or discount level of asset prices on the Coinbase platform relative to other major trading platforms. When this indicator turns from negative to positive, it is often interpreted as U.S. investors, particularly institutional funds, being relatively active in buying, providing support for spot demand. The recent rebound in Ethereum-related premiums is viewed by some observers as one of the signals of marginal improvement in liquidity.

According to monitoring by BitcoinTreasuries.NET, Strive has resumed accumulating SATA after a break of more than two months, having purchased 31 bitcoins.

CryptoQuant analyst Abramchart stated that Bitcoin recorded one of the largest inflows of funds in history, with over 38,000 Bitcoins transferred to wallets typically associated with long-term holders and over-the-counter settlements. This seems to be good news. However, when combining this data with the actual prices of accumulation addresses, the situation becomes more complex. The average cost of these accumulation wallets is currently around $70,000, while Bitcoin's trading price is close to $64,000.This creates two possible scenarios: Bullish: Whales are actively accumulating in hopes of profiting in the next round of price increases. A situation worth noting: Some purchases may be aimed at lowering the average entry price so that when Bitcoin returns to the $70,000 range, they can exit at a price close to cost. In other words, today's accumulation does not necessarily mean long-term holding. It may also represent a strategic layout before reaching the breakeven point. Abramchart believes that the inflow of funds is undoubtedly substantial and worth close attention, but the $70,000 transaction price may become an important decision point. Whether these funds continue to accumulate or begin to diversify investments around this price level will provide clearer signals for the next major trend.

ARK Invest released the Q2 2026 Bitcoin report stating that Bitcoin fell by about 14% in the second quarter, dropping below the realized price for short-term holders, the 200-day moving average, and the on-chain average, with the technical outlook remaining bearish. However, the proportion of loss supply rose to about 54%, and the supply of long-term holders increased to a historical high of about 14.85 million BTC, which ARK views as a potential signal of seller exhaustion.The report also pointed out that Bitcoin has not yet fallen back to the on-chain cost range of about $49,000 to $53,000, and the downside risk has not been fully released; the net outflow of the U.S. spot Bitcoin ETF in Q2 was about 71,000 BTC, and the preferred stock of Strategy, STRC, fell to a minimum of $74.57.

According to CoinDesk, Jurien Timmer, the Global Macro Director at Fidelity, stated that Bitcoin is approaching the bottom support line of its "power law model" constructed based on the complete price history of Bitcoin. This long-term support level is currently around $58,000, while the current price of Bitcoin is approximately $62,700, gradually nearing this area, or may have already entered the "accumulation zone" defined by the model.However, Jurien Timmer did not confirm that the market has bottomed out, but believes that Bitcoin may not experience a rapid rebound immediately. Instead, it is expected to fluctuate around the long-term support line for several months. Short-term capital has previously exited, and the flow of funds has rotated from Bitcoin to gold, and then from gold to the semiconductor sector. Currently, the market's pursuit of hot sectors is still mainly concentrated in the semiconductor field.

CryptoQuant analyst Axel Adler Jr. stated that Bitcoin may have entered a new accumulation zone, but the potential structural bottom of this cycle is still around $48,000. Currently, the seller risk ratio after Bitcoin's adjustment first entered the red zone when it fell below $60,000, indicating that the volume of loss supply has begun to exceed the volume of profit supply, and the unrealized pressure on holders has significantly increased.On the other hand, the Cumulative Value Destruction Day (CVDD) valuation model shows that the structural bottom of Bitcoin's current cycle is around $48,000. Axel Adler Jr. summarized that historically similar zones often correspond to market capitulation phases and bottom formation processes, such as the cycle lows in 2019 and 2023. However, it remains to be seen whether the price can hold the $60,000 area, while the seller risk ratio smooth line continues to rise. Although the price of Bitcoin has rebounded to around $66,000, the market is still at the lower end of the valuation range, and caution is still needed regarding the final confirmation process of the cycle bottom.

According to CoinDesk, the Bitcoin Sharpe ratio has fallen to -20, a level that has appeared at the bottoms of cycles in 2015, 2018-19, and 2022-23. However, historically, this signal is usually accompanied by several months of bottoming rather than an immediate rebound; in 2015, this indicator stayed in the bottom region for about five months, while in 2018-19 and 2022-23, it was about three months each.Meanwhile, accumulation wallets absorbed about 125,000 BTC in the first half of June. Exchange reserves have decreased by about 80,000 since February to approximately 2.71 million, with whales withdrawing over 11,000 from exchanges in the past day. Bitcoin rebounded from a low of $59,130 to about $65,800, mainly driven by the US-Iran agreement rather than on-chain indicators. The Federal Reserve's interest rate decision is the next test, and the dot plot and Fed Chair Warsh's statements on inflation will determine whether the rebound can continue.

CryptoQuant analyst Axel Adler Jr. stated that the Bitcoin Sell-Side Risk Ratio (SSRR) entered the red zone for the first time when BTC dropped to $60,000, with the volume of losses exceeding the volume of profits, reflecting the deep pressure on holders. Historically, when this indicator enters the red zone, it often coincides with the formation of a bottom.Meanwhile, the CVDD valuation model shows that the structural bottom is around $48,300, a level that has almost never been closed below in Bitcoin's history. Currently, Bitcoin has rebounded to $66,000, and the smoothed SSRR has begun to turn upward. Analysts believe that $60,000 is a behavioral pressure zone, while $48,000 is the boundary for structural risk. The subsequent confirmation of recovery signals is when the smoothed SSRR exits the red zone and the price stabilizes above $60,000; the main risk is the emergence of new red signals at lower levels and testing the $48,000 support. Overall, the market is gradually shifting towards an accumulation pattern.

Glassnode published an analysis on platform X indicating that its cumulative trend score metric shows that after Bitcoin's price dipped to the $60,000 range in early June, the overall behavior of on-chain addresses has clearly shifted towards accumulation.This metric measures the intensity of accumulation behavior on-chain by combining holding size and recent balance changes, with a value close to 1 representing widespread accumulation and a value close to 0 indicating ongoing distribution.

According to on-chain analyst @ai_9684xtpa, a16z affiliated entities have increased their holdings by 90,091 HYPE in the past 10 hours, valued at approximately 5.238 million USD.On-chain data shows that this entity has accumulated a total of 6.996 million HYPE since 2026, with a total value of approximately 327 million USD and an average acquisition price of about 46.85 USD.

On-chain analyst Axel Adler Jr stated in a recent report that the Bitcoin market has entered a significant volatility compression phase. The realized volatility over the past week (30-day moving average) has dropped from about 39 in early March this year to the current level of around 17, with a quarterly decline of over 56%, approaching historical low levels. Currently, the BTC price remains around $73,500, still below the approximately $79,500 200-day moving average. Historical experience shows that extremely low volatility often indicates that the market is accumulating energy, typically followed by a significant directional trend. However, volatility compression itself does not provide directional signals; it merely indicates that the market is about to make a new trend choice.Meanwhile, the Delta indicator, which reflects changes in market premiums (the difference between market capitalization growth rate and realized market capitalization growth rate), has been in negative territory for six consecutive months, further dropping to about -0.0013 in May. This indicator suggests that the growth rate of Bitcoin's market capitalization continues to lag behind the growth rate of realized market capitalization, indicating a contraction in market risk appetite and valuation premium.The current market exhibits a combination of "low volatility + cooling premiums," which is not a typical overheated bull market structure but rather resembles a consolidation phase after emotional cooling. If BTC subsequently returns above the 200-day moving average, and Delta rebounds to near zero, it will indicate that the market has re-entered a risk appetite expansion cycle; conversely, if volatility releases downward and Delta continues to deteriorate, it may enter a deeper risk-averse phase.In summary, Axel Adler Jr stated that the current market direction remains neutral, but the degree of compression is at a high level, and the probability of significant directional volatility in the future is continuously increasing.

According to The Block, CryptoQuant's research director Julio Moreno stated that the accumulation of Bitcoin whales (wallets holding 1,000 to 10,000 Bitcoins, excluding exchanges and mining pools) and dolphins (wallets holding 100 to 1,000 Bitcoins, primarily dominated by ETFs and corporate treasury companies) has stagnated, with demand continuing to weaken. The year-on-year contraction rate of whale balances is the fastest this year, while the annual growth rate of dolphin balances, although still positive, has significantly slowed, and the monthly growth rates for both are approaching zero, indicating that the structural demand engine is in a state of ongoing slowdown.Although the supply of long-term holders has reached a record 15,800,000 Bitcoins, this is not a bullish signal, as short-term demand is too weak to absorb the tokens of long-term holders. The supply of short-term holders has decreased from 6,400,000 Bitcoins in December 2025 to about 4,200,000 Bitcoins, of which approximately 900,000 Bitcoins came from Coinbase exchange reserves that have been passively converted to long-term holdings due to holding periods exceeding 155 days. Moreno reiterated that the current market conditions are similar to the bear market pattern of March 2022.

According to monitoring by BitcoinTreasuries.NET, Strive's preferred stock SATA reached a record high daily Bitcoin accumulation yesterday, totaling 402 bitcoins, which accounts for 51% of its total Bitcoin accumulation over the previous week, marking the largest single-day accumulation since its IPO.

According to on-chain analyst Ai Yi's monitoring, the address that built a position of 3845 ETH at $2074 yesterday has added another 967.01 ETH. Since yesterday, a new round of accumulation has gathered 4812.03 ETH, with a total value of $10 million and an average acquisition price of $2078.91, currently showing an unrealized profit of $114,000.