Bitcoin sees largest-ever contrarian accumulation, with long-term holders adding 186,000 BTC in a single month

ChainCatcher news, according to on-chain data from CryptoQuant, an abnormal signal has been detected: since October 6, the BTC demand from long-term diamond hand holders has surged from 159,000 to 345,000, marking the largest accumulation scale in the recent cycle. However, contrary to historical patterns, the price has not risen but instead has dropped sharply.

In the past, when long-term holders aggressively accumulated supply, it usually triggered a supply squeeze and pushed the price to a short-term high. But this cycle presents a contradiction: smart money is accumulating a large number of chips amid extreme panic, while the market is stuck in tens of billions of dollars in unrealized losses. Analysts point out that such abnormal accumulation during a downtrend usually signals two possible outcomes:

Scenario 1: After deep absorption of supply, a strong rebound erupts when retail investors exit, and institutions take the opportunity to distribute chips to new entrants.

Scenario 2: The price explores further lows, completely flushing out market buyers, forcing even strong buyers to reassess, thus laying the foundation for a more sustained trend.