The market is shouting Bear Market, Bitcoin has fallen below the $100,000 mark, and retail investors are panic selling. But if you look at the on-chain data, you'll find it's a completely different story.

In the past month, the net inflow of Bitcoin accumulation addresses reached 375,000 coins, setting a new historical record. Even more exaggerated, on the day the price broke $100,000, someone directly swept away 50,000 BTC. The monthly average accumulation also doubled from the previous 130,000 coins to 262,000 coins, and it is still accelerating.

This kind of buying method is not something that retail investors can achieve. This is a strategic layout done by players at the level of institutions, family offices, and asset management giants. They are not here to speculate on short-term fluctuations—they are locking in chips in advance for the next big market move.

Every time there is a wave of coin hoarding of this scale, the market follows a familiar script:
First step, BTC first consolidates and sucks blood, the price fluctuates but does not crash;
Then the funds began to flow into ETH;
The final breakout point is often in the ecosystem, with entry-level projects like Polygon usually being the first to surge.

Why pay attention to accumulation addresses? Because the characteristic of these wallets is that they only receive and do not send out, and the holders are usually:
• Crypto department of traditional financial institutions
• High net worth family funds
• Listed company treasury
• Sovereign funds or national reserves
• super large whale accounts

Their timeline is not calculated in days, but in years or even cycles. When the accumulation reaches a new high, it often indicates two situations: either it is a bottom area or it is the last window for building positions before a major uptrend.

Now that this data is here, what do you think it is?