Long-term Bitcoin holders have accumulated a staggering 90,000 BTC in the past month, reaching an unprecedented historical high. This accumulation contrasts with institutional ETF outflows of $500 million last week, highlighting a stark divergence between short-term market sentiment and long-term investment strategies. Analysis shows this activity echoes the buildup leading up to Bitcoin’s strong 2023 rally. The on-chain data suggests potential for further price momentum. While short-term investors are experiencing volatility-induced selling, long-term holders are aggressively purchasing Bitcoin, marking the largest accumulation period in history according to CryptoQuant.