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Bitcoin has seen a 0.9% decline in the last 24 hours amid market uncertainty. Recent analysis indicates that institutional investors are accumulating Bitcoin, potentially influencing long-term price trends.
Over the past 24 hours, Bitcoin, the flagship cryptocurrency, has declined by 0.9% after a trading week with little to no price action. Although the market’s next direction remains largely uncertain, a recent analysis has provided insight into underlying investor activity that would dictate long-term price direction.
In a recent post on CryptoQuant’s QuickTake, on-chain analyst GugaOnChain highlights a significant capital rotation underway in the Bitcoin market. The metric relevant to this analysis is the Bitcoin: Global Network Accumulation vs. Distribution by All Cohorts (30D), which tracks whether different wallet-size groups are buying or selling Bitcoin over the past 30 days, thereby revealing which cohorts are driving market supply and demand.

Source: CryptoQuant
The analyst points out that mega-whales (holding more than 10,000 BTC) have recently distributed -25.51K BTC. However, the released supply was quickly absorbed by smart money “sharks” (investors with 100-1,000 BTC), who reportedly acquired 37.92K BTC during the same period. The analyst explains that, together with the +9.57K BTC absorbed by the 1K-10K BTC cohort, there is an effect of institutional price shielding currently on display.
Further supporting this narrative, the Exchange Whale Ratio — a metric that assesses the proportion of large transactions flowing into exchanges — currently stands at 61.89%. Yet, Binance data shows zero Bitcoin inflows over 24 hours from the 100- to 10,000-BTC cohorts, suggesting that large holders are not preparing to sell. Meanwhile, Open Interest, a key indicator of participation and positioning across derivatives markets, has surged by about 10.43%, reaching approximately $25.98 billion.
On the other hand, Bitcoin reserves held on exchanges have declined by nearly 1% over the past month. According to the analyst, this translates to a retraction of approximately 2.66 million BTC. This means investors are moving assets out of exchanges, a behavior typically seen ahead of long-term holding. When this decline is combined with neutral miner positioning (MPI at -0.50) and a positive Coinbase Premium Gap around 23.84 (which reflects steady US buying interest), it becomes apparent that sustained accumulation is ongoing, however subtle. If this persists, the accumulated supply could overcome the existing sell pressure to sponsor the next Bitcoin rally.
The analysis indicates strong accumulation by institutional investors, suggesting they are buying Bitcoin despite market uncertainty.
Bitcoin's price has declined by 0.9% over the past 24 hours.
The Bitcoin: Global Network Accumulation vs. Distribution by All Cohorts (30D) metric is used to track buying and selling activities among different wallet-size groups.

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At the time of writing, the Bitcoin price is $77,353. According to CoinMarketCap data, the world’s leading cryptocurrency is down 1.33% over the last 24 hours.
BTC trading at $77,630 on the daily chart | Source: BTCUSDT chart on Tradingview.com
Featured image from iStock, chart from Tradingview