Bitcoin whales kept buying through the latest market drop. According to CryptoQuant analyst CW8900, 66.94K BTC flowed into accumulation addresses on February 6, marking the largest one-day inflow seen in the current cycle.
These wallets rarely spend coins and are commonly associated with institutions, funds, or investors with a long holding horizon. A sharp increase in transfers to such addresses during a volatile period suggests that large holders were not cutting exposure on weakness. They were moving Bitcoin into wallets meant for storage, which tightens available supply.
Accumulation address inflows climbed across the cycle
The pattern did not start this month. In the earlier phase, inflows into accumulation addresses were relatively small. During the 2020-2021 bull run, larger amounts of Bitcoin began moving into these wallets, while holders chose to keep coins off the market instead of selling into strength.
After the 2021 peak and the following bear market, the inflows became more sporadic, but they did not disappear. That matters. In CW8900’s reading, long-term conviction stayed in place even as prices corrected. From 2023 to 2025, inflows started pushing toward historical highs.
Volatile phases are drawing in larger buyers
The analysis also points to a recurring trend: spikes in inflows tend to appear during the most volatile stretches of the market, including deep pullbacks and late-cycle rallies. Buying activity in accumulation wallets is not limited to bullish momentum. Large investors are also stepping in when prices swing hard to the downside.
Bigger and more frequent inflows may also reflect broader institutional participation and deliberate positioning. As more BTC is transferred into wallets that seldom distribute coins, liquid supply in the market shrinks. That can amplify future price moves if demand stays firm.
CW8900 said accumulation addresses offer a useful view into long-term holder sentiment. His conclusion was clear: accumulation activity did not collapse even during sharp corrections. The on-chain pattern shows that whales and long-term buyers are still adding Bitcoin during periods of stress.