Bitcoin records strong accumulation from both whales and retail investors as the price holds above the 110,000 USD threshold, supported by increased network activity and a breakthrough in the Stock-to-Flow index – reinforcing the long-term bullish thesis.
Simultaneous positive signals regarding accumulation, network activity, and supply scarcity strengthen Bitcoin's outlook, even though the price is still fluctuating within the short-term accumulation range.
MAIN CONTENT
Whales and retail individuals are accumulating concurrently, demonstrating confidence in Bitcoin's medium to long-term outlook.
Bitcoin maintains the support price zone of 110,000 USD, along with strong growth in network activity and wallet addresses.
Stock-to-Flow surges, withdrawal flows continue, confirming the accumulation trend and long-term bullish expectations.
How are Bitcoin whales and retail investors accumulating?
Data from Glassnode shows that both whales holding over 10,000 BTC and small wallets under 1 BTC have been accumulating Bitcoin strongly in the last two weeks. This reflects a widespread buying trend after the recent price adjustment.
The accumulation consensus of both whales and retail investors is often a sign of identifying recovery turning points, emphasizing sustainable confidence in Bitcoin's long-term prospects – Glassnode data (08/2025).
(Source: Glassnode, 2025)
Not only institutional investors but also small retail investors are increasing purchases, creating a vigorous 'bottom-hunting' wave. This phenomenon often appears before recovery phases, when many investor groups concurrently believe in market prospects. The use of a 15-day decreasing time frame for this index helps filter out short-term noise, but it may also delay assessments compared to market sentiment in each session.
Nevertheless, widespread buying momentum indicates a return of confidence in Bitcoin. Historical data also shows that whenever these two groups accumulate, the price often has a higher probability of recovering, resonating with other signals from technical indicators.
Source: Glassnode, X.com
What keeps Bitcoin supported above 110,000 USD?
After the recent adjustment phase, Bitcoin is still maintaining a crucial support zone above 110,000 USD – closely following the rising resistance level and has not been broken, reinforcing the long-term bullish structure.
The ability to maintain key support levels keeps the bullish structure intact, creating a foundation for potential recovery in the medium term.
(According to TradingView, 08/2025)
The RSI index is currently at 46, which is below the neutral threshold. This indicates that there is still considerable room for recovery, and the market is not yet in an overbought state. Throughout the accumulation period, price movements have successfully tested the support zone, meaning selling pressure has significantly decreased and buying momentum could be triggered when the market expects recovery.
If this positive trend continues, Bitcoin is likely to retest short-term resistance areas around 118,000–122,000 USD. This area will also determine whether the bullish trend will continue to expand.
Source: TradingView
What notable activities are happening in the Bitcoin network?
On-chain data from IntoTheBlock shows synchronized growth in Bitcoin network activity: New addresses increased by 5.75%, active addresses increased by 8.15% in the past 7 days. Notably, the number of addresses with a balance of 0 increased by 15.12%.
A strong increase in new addresses, active addresses, and addresses with a balance of 0 – especially during stable price periods – is a clear testament to the growing demand for use and the internal movement of the network.
(IntoTheBlock, 08/2025)
The simultaneous growth of these indicators not only reflects the spillover effect from the accumulation wave but also illustrates the increasingly widespread participation of both new and old investors. Notably, zero balance addresses are often related to internal transfers, accumulation, or wallet security upgrades, signaling preparations for long-term holding plans.
In previous phases, whenever the number of new addresses and active addresses increased simultaneously, it predicted stronger demand trends, preparing for the next price surge and solidifying Bitcoin's position within the global cryptocurrency ecosystem.
Source: IntoTheBlock
Does a strong increase in Stock-to-Flow reinforce the argument for Bitcoin's 'scarcity'?
The Stock-to-Flow (S2F) index measuring Bitcoin's scarcity has just surged by 66%, reaching 1,061,400, indicating that new supply issuance is increasingly limited compared to circulating supply.
A surge in Stock-to-Flow often accompanies significant long-term growth cycles, especially when newly issued supply decreases amidst a surge in demand.
(CryptoQuant, 08/2025)
In essence, S2F illustrates the rarity of Bitcoin – whenever this index rises sharply, history has recorded sustainable price increases accompanying it, especially after halving events when supply per block decreases. Being ready to transfer a large portion of Bitcoin from exchanges to cold wallets also reflects investors' long-term expectation mentality regarding this asset's scarcity.
Although S2F cannot predict short-term fluctuations, it strongly reinforces the 'digital gold' narrative – Bitcoin's inflation-resistant asset, especially as accumulation and network activity grow significantly.
Source: CryptoQuant
What is driving investors' long-term holding mentality?
Cash flows from exchanges continuously circulate away from spot; on just August 6, outflows reached -53.68 million USD, reflecting an increasing trend of storing Bitcoin in long-term cold wallets.
Strong withdrawals of Bitcoin from exchanges indicate that holders are no longer anxious to liquidate, but instead are willing to wait – a key factor that lays the foundation for sustainable uptrends.
(CoinGlass, 08/2025)
Withdrawal flows from exchanges are a strong indicator of a shift from speculative trading to accumulation investing. As the amount of Bitcoin stored on exchanges decreases, the immediate supply is limited, and prices are supported by natural demand flows instead of facing selling pressure.
Along with S2F, the increase in new addresses and active addresses, this accumulation action contributes to building sustainable growth momentum. As the 'HODL' mentality spreads, the market not only becomes structurally more stable but also attracts new investors drawn by these positive data.
Source: CoinGlass
What indicators reinforce the long-term bullish outlook?
The synchronization between on-chain indicators, long-term asset storage behavior, widespread accumulation, and increased network activity is a key foundation for Bitcoin's potential to lead new upward waves.
The recurring scenario of multi-group accumulation and network growth is always the most crucial catalyst for phases transitioning from accumulation to strong value increases in the entire market.
(Glassnode report, 2024, cited in The Block)
Looking at historical data, Bitcoin cycles often begin with consensus accumulation, followed by growth in the number of new wallets and network transaction activity. This triggers herd mentality, causing demand to continue spreading, pushing prices up to strategic resistance levels. The presence of large capital flows (whales, investment funds, institutions) serves as a regulatory catalyst, pulling capital value further.
The medium to long-term outlook remains strongly supported as network data, accumulation, exchange cash flow structures, and the S2F scarcity index all converge to validate the trend. If these factors are maintained long enough, the probability of Bitcoin breaking through the next resistance levels will increase.
Comparison table of network indicators supporting Bitcoin price growth
Key indicators Latest Value Recent Growth Impact on Price New addresses Increase 5.75% Past 7 days Spreading new demand, expanding ecosystem Active addresses Increase 8.15% Past 7 days Reflecting real transaction growth Addresses with balance 0 Increase 15.12% Past 7 days Signs of reorganizing wallets, preparing to accumulate Stock-to-Flow 1,061,400 Increase +66% Increasing scarcity, supporting long-term uptrend Withdrawal flows -53.68 million USD On 06/08 Tightening supply, increasing accumulation confidence
What will price movements and market sentiment depend on?
Although current indicators are positive, Bitcoin's ability to break the next resistance (118,000–122,000 USD) will depend on the duration of the current accumulation, network growth, and withdrawal flows.
If any of these factors weaken, the price could continue to fluctuate within the mid-term accumulation range. The market is also always influenced by short-term factors from macro news, CPI data, and liquidity adjustments in traditional financial markets. However, the progressive strength from large accumulation flows will play an important role if long-term expectations continue to be reinforced.
In summary, Bitcoin is in a stable state both technically and in terms of cash flow, with expectations to continue leading the cryptocurrency market in the near future if the aforementioned trends are not abruptly disrupted.
Frequently Asked Questions
Is Bitcoin still attractive for long-term investment at prices above 110,000 USD?
Many network indicators and accumulation trends confirm confidence in long-term prospects, even when the price is above 110,000 USD (source: Glassnode, CryptoQuant).
How to recognize signs of Bitcoin whales accumulating?
Observing on-chain data, especially the number of wallets holding >10,000 BTC continuously increasing their holdings, strong withdrawal flows from exchanges are typical signs (source: Glassnode).
What does the rise in Stock-to-Flow mean for Bitcoin's price cycle?
A strong increase in Stock-to-Flow indicates limited supply, often associated with solid price increases in the medium to long term (CryptoQuant).
How does wallet address activity affect Bitcoin's price?
The increase in new wallet addresses and active addresses reflects new demand, contributing to the important foundation for the next price waves.
Is withdrawing Bitcoin from exchanges always a positive signal?
Withdrawing Bitcoin from exchanges reflects accumulation actions, long-term expectations, and reduces immediate selling pressure – often seen as a bullish signal.
What factors could cause the current growth momentum to stall?
If accumulation, network growth, or withdrawal flows weaken; or if significant macro risks such as bad news or volatility in traditional market liquidity appear.
How long until Bitcoin can break the 122,000 USD resistance?
This depends on the speed of maintaining positive indicators and cash flow behavior; it is impossible to determine the precise timing, but current data strongly supports this scenario.
Source: https://tintucbitcoin.com/bitcoin-hai-nhom-lon-va-da-phuc-hoi/
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