Bitcoin Accumulation Surges After $60K Crash Despite ETF Outflows

This article was first published on The Bit Journal. Bitcoin’s sharp selloff last week has triggered what analysts describe as one of the strongest Bitcoin accumulation phases of the current market cycle, even as pressure continues across exchange-traded fund (ETF) products.

On-chain records indicate a historic spurt in Bitcoin going into wallets of long-term holding behavior shortly after a violent wave of deleveraging orgasmed through crypto markets. The timing proved critical. Bitcoin crashed at a high pace, hitting a low point of just under $60,000 during the presidency of Donald Trump and the sharpest decline since the FTX crash in 2022 before returning to trade in the $70,000 region at press time.

Bitcoin Accumulation Signals Strong Dip Buying

CryptoQuant reported that on Feb. 6, the accumulator addresses received 66,940 Bitcoin, which is the largest inflow of the cycle on a single day. That shift at a price of about 70,000 would be about 4.7 billion dollars of Bitcoin moving into wallets that are generally associated with the accumulation of bitcoin, instead of trading bitcoin on a short-term basis.

The accumulator addresses are usually characterized as wallets receiving Bitcoin without displaying the signs of usual expenditure. With these wallets experiencing sudden and large inflows, the traders usually understand that the activity is an indication that the supply is being soaked by long-term capital. The inflow, in this instance, had come in at a time when forced sellers were leaving leveraged positions, which supports the belief that the selloff was absorbed by vigorous Bitcoin buying in certain market segments.

On-Chain Accumulation Contrasts With ETF Outflows

The overall picture is however ambivalent. On-chain indicators show accumulation behavior, when flows of ETFs are moving in the opposite direction. Last week, U.S. spot Bitcoin ETFs reported net outflows of over $331 million, highlighting the continued selling pressure by regulated investment products at a time when spot buyers were seen to be active in other areas.

It is this difference that has turned out to be the story of the present drawdown. On the one hand, on-chain indicators indicate that large holders accumulate Bitcoin strongly. Conversely, ETF redemptions portend further caution by institutional and traditional investors.

On-chain flows do not indicate new buying conviction, as analysts warn. Major movements to accumulation-style wallets may indicate custody reorganizations, wallets within wallets, or segmentation. Subsequently, one-day spikes should be regarded more as precursors than as indicators of permanent accumulation of Bitcoin.

Strategy Reinforces Long-Term Bitcoin Accumulation

Despite these reservations, the size and speed of the inflow on 6 February could not be overlooked, especially as traders sought indications of a possible market bottom after the markets plummeted suddenly to below 60,000.

Strategy, the publicly traded firm that manages a Bitcoin-based treasury strategy, was one of the most apparent purchasers of the volatility. Strategy also purchased 1,142 Bitcoin between Feb. 2 and Feb. 8 at an average price of 78,815 per coin, and spent about 90 million to make these purchases, disclosed by Executive Chairman Michael Saylor. The acquisition brought the total assets of the firm to 714,644 Bitcoin.

Although small compared to the general status of Strategy, the action reinforces the business as a steady investor in long-term Bitcoin accumulation. Strategy has established itself as a firm that is turning access to capital markets into spot Bitcoin demand and therefore its moves will be monitored keenly at times of market stress.

Binance SAFU Fund Boosts Bitcoin Accumulation

The other highlight buyer was the SAFU fund of Binance, a user protection reserve that has been rebalanced into Bitcoin. Binance also announced that the SAFU address purchased another 4,225 Bitcoin on Feb. 9, and it was financed by approximately 300 million worth of stablecoins. The SAFU Bitcoin address has the current balance of 10,455 BTC.

In contrast to the directional whale trades, the SAFU purchases are motivated by the reserve management and risk controls, and they are comparatively price-insensitive. Such form of organised demand can help generate consistent accumulation of Bitcoin in times of compelled selling especially when other demand options are compromised.

Record ETF Trading Volumes Show Market Activity

In the meantime, CoinShares said that outflows in the investment of digital assets decreased sharply to as little as $187 million last week as the price came under pressure. The assets managed dropped to 129.8 billion, the lowest since March 2025, and weekly ETF trading volumes reached a record of 63.1 billion, showing high activity despite net flows of negative magnitude.

Practically, however, the market is now an expression of a tug-of-war. Coins are still transferred to wallets related to long-term Bitcoin investing, and the selling of ETF still continues. The subsequent move of bitcoin will not require any single whale purchases, but whether the accumulation patterns will be maintained as the larger selling pressure will diminish over time.

Conclusion

As Bitcoin navigates ongoing volatility, the tug-of-war between long-term accumulation and ETF outflows continues to shape market sentiment. Strategy and Binance SAFU buying whales underline consistent Bitcoin accumulation, but more widespread stabilization will require continuous inflows and alleviation of the pressure to sell, which will fix the market to create a lasting bottom.

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Summary

• Feb. 6 experienced 66,940 BTC transfer into long-term wallets, which indicates a powerful Bitcoin accumulation.
• Strategy and Binance SAFU purchased 1,142 BTC and 4,225 BTC, which supported consistent accumulation.
• ETF outflows remained, however, record-trading volumes reveal a tug-of-war between selling and buying pressure.

Glossary of Key Terms

Bitcoin Accumulation:  Moving Bitcoin into long-term wallets instead of trading.

Accumulator Addresses:  Wallets that receive Bitcoin without regular spending patterns.

Whale:  Individual or entity holding large amounts of Bitcoin.

Strategy:  Michael Saylor’s firm managing a Bitcoin-heavy treasury strategy.

Binance SAFU Fund:  User protection reserve buying Bitcoin for stability.

Frequently Asked Questions  about Bitcoin Accumulation

1. What is Bitcoin accumulation?

Shifting BTC to long-term wallets as opposed to trade, which is indicative of confidence and absorption of supply.

2. Who bought during the recent dip?

Accumulation was enhanced by 1,142 BTC purchased by Strategy and 4,225 BTC purchased by Binance SAFU fund.

3. How do ETF outflows impact Bitcoin?

They mirror the pressure to sell, which is in opposition to accumulation on-chain and forms market tug-of-war.

4. What do on-chain indicators show?

There are historic inflows to accumulator addresses that indicate high long-term trends in Bitcoin accumulation.

References

Cryptoquant

Twitter

Coinshares

Disclaimer

This article is for informational purposes only and does not constitute financial, investment, or trading advice. Cryptocurrencies are highly volatile and risky. Readers should do their own research and consult a qualified financial professional before investing.

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