CryptoQuant found that large custody wallets accumulated $53 billion in Bitcoin over 12 months, suggesting that institutional demand for Bitcoin hasn’t gone away.

Bitcoin accumulation by wallets holding between 100 and 1,000 BTC could signal that there is continued interest in Bitcoin from institutional investors in the US.

“Institutions just began to invest in Bitcoin and Ethereum. I think this is just the beginning. Most people can’t imagine in 2030-2040,” replied political economist “Crypto Seth.” 

DAT holdings surge 30% in six months

Part of the surge could also be down to digital asset treasuries. 

Crypto DATs, led by Michael Saylor’s Strategy, have scooped up 260,000 BTC since July, worth roughly $24 billion at current market prices. 

This marks an increase of 30% over the past six months, outpacing miner supply, reported Glassnode. They now collectively hold more than 1.1 million BTC.

Retail sentiment is back to fear 

However, retail traders have been more shy towards crypto over the past few months. 

The Bitcoin Fear & Greed Index, which measures retail market sentiment, slipped back into “fear” this week with a rating of 32 out of 100 on Tuesday. This comes after it briefly flipped to “greed” for the first time since October last week. 

The increased anxiety comes as Bitcoin prices retreated from last week’s high of $97,000 to below $92,000 on Tuesday morning as markets reacted to the escalation of trade conflicts between the United States and Europe. 

Sources >> Bitcoin institutional demand remains strong: CryptoQuant