Even during the midst of this Bear Market, long-term holders are adding at least 15k BTC monthly with a peak of over 50k BTC per month.

The typical association with a bear market is that everything is bad, everything is going down and everything is red. But that is not actually the case during bear market, there are certain holders that actually know how to use bear markets for their advantage and they are usually the most successful investors, the long-term holders.

Only long-term holders have enough conviction and most important of all, they have enough patience, to believe in their investments and wait out multiple years or even decades. Simultaneously to the waiting those investors tend to “buy the dip“ and that most importantly during times no one else is ready to buy the dip, or as we may say when “blood is on the streets“.

Long-term holders have been accumulating during this bear markets at a pace of up to over 50k BTC monthly.

Chart from Glassnode showing the monthly accumulation amount of HODLERs

On this chart we can see that the green parts represent phases where “HOLDERS“ were buying/accumulating and the red ones, where they were selling. Right now we are in an accumulation phase with roughly 15k BTC as monthly inflow for those long-term holders.

But that is not the peak there have been multiple periods, in which long-term were accumulating over 50k BTC per month and those have notably been the midst peak fear periods were we had just crashed down.

Obviously, those long-term holders also had a few people indeed paper-handing or selling to fill their needs, but during this bear market those periods have been nothing in comparison to the sheer scale of accumulations by whales.