Bitcoin Stabilizes as Long-Term Holders Continue Accumulating

According to a recent analysis from Bitfinex, long-term Bitcoin holders have continued to accumulate even as the cryptocurrency's price has fallen significantly. Despite prices dropping from $82,000 to under $58,000, these investors maintained their accumulation strategy.

The report notes that while the scale of accumulation has decreased, it still indicates a market entering a stabilization phase rather than a full recovery. The accumulation rate declined from approximately 40,000 BTC per month in late May to around 14,000 BTC per month by late July.

This reduction in buying activity coincided with a parallel slowdown in selling activity, suggesting that both sides of the market are becoming less aggressive. This shift in market behavior is interpreted as a period of consolidation rather than an immediate rebound.