Bitcoin’s biggest investors have been the primary buyers in the $80,000 zone.

Bitcoin’s largest holders have taken the lead in buying since the cryptocurrency bottomed near $80,000 in late November, Glassnode data shows. Wallets holding at least 1,000 BTC remain the most active accumulators even as bitcoin trades just shy of $90,000.

Among all cohorts, the 1,000–10,000 BTC group stands out as the only segment showing consistent accumulation, with its Accumulation Trend Score hovering close to 1. The metric evaluates net buying and selling across wallet sizes over a 15-day window, with higher readings indicating accumulation and lower scores pointing to distribution.

Glassnode’s data suggests that large investors have been steadily building positions in the $80,000 range — a price level bitcoin has not occupied for long relative to other trading zones. In contrast, smaller holders are largely reducing exposure, with all sub-1,000 BTC cohorts displaying varying degrees of distribution.

This divergence comes as the Crypto Fear and Greed Index has remained in “fear” or “extreme fear” territory for roughly the past month, suggesting that selling pressure from smaller investors may be driven by capitulation.

At the same time, wallets holding more than 10,000 BTC were aggressive buyers during bitcoin’s dip toward $80,000 in late November, though their pace of accumulation has slowed in recent weeks. Still, the group has not shifted into net selling — a pattern that prevailed when bitcoin topped $100,000 earlier in the year.