Analysts: Large Bitcoin holders continue accumulating during price rebound phases

Following a post by CryptoQuant analyst MorenoDV_, on-chain data shows that excluding exchange and mining pool addresses, the total holdings of Bitcoin whales have increased from approximately 2.94 million BTC in late August to nearly 3 million BTC, representing a net growth of roughly 60,000 BTC (about 2%) and setting a new annual high. This accumulation pattern has been intermittent: growth slowed in September before accelerating again from late September to early October. This rhythm indicates that large holders are expanding their exposure only after the price begins to rebound, rather than positioning ahead of time. The concurrent rise in price and holdings reflects steady absorption of market supply. If this trend continues, it will help digest profit-taking pressure and likely push the market from a short-term rebound into a more sustained upward trajectory.