Bitcoin Accumulation Increases Amid Market Weakness, Sharp Rise in 1,000+ BTC Holders Suggests Growing Conviction
According to a November 17, 2025 CoinDesk article, Bitcoin accumulation has increased among large holders despite overall market weakness, as the price traded below $100,000.
Entities holding at least 1,000 BTC rose to 1,436 over the past week, reversing a trend from much of 2025 when larger holders were net sellers. This cohort had previously peaked at over 1,500 entities in November 2024 following Donald Trump's election victory before declining to about 1,300 in October 2025.
In January 2024, a price rally coincided with a rise in large holders from 1,380 to 1,512 ahead of the U.S. ETF launch, with Bitcoin topping around $70,000 a couple of months later.
The Accumulation Trend Score from Glassnode, which measures coin acquisition (excluding exchanges and miners), shows whales holding more than 10,000 BTC are no longer heavy sellers for the first time since August, with a score around 0.5. Holders with 1,000–10,000 BTC display modest accumulation, while the strongest accumulation comes from holders of 100–1,000 BTC and wallets containing under 1 BTC.
Overall, data suggest a growing conviction among investors that Bitcoin is undervalued at current levels.
