Bitcoin wallets absorb 4.37M BTC as network activity flips to 'bull phase’
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The Bitcoin supply held in long-term investor wallets moved above 4 million BTC, while a network activity index flashed a “bull phase” signal.
New data suggests that Bitcoin (BTC) could be moving closer to a bull market phase as its supply slowly shifts back into long-term, retail-investor-linked wallets. The figure surpassed 4 million BTC in Q1 2026.
The accumulation trend aligns with a rise in Bitcoin network activity index to levels last seen in April 2025, signaling a return of stronger network activity.
CryptoQuant data shows that balances held by accumulating address cohorts continued to rise into Q1 2026. The total BTC held by these cohorts has crossed 4.37 million BTC as of April 7, up from about 2 million BTC in early 2024, signaling sustained supply absorption.
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