#比特币机构配置与囤积 Strategy has bought over 10,000 BTC for two consecutive weeks, accumulating a total of 21,269 BTC in December. This data is worth paying attention to.

From an on-chain perspective, the continued allocation by institutions at the current price level reflects several signals: First, the difference in cost basis is obvious—an average cost of $74,972, while the recent purchase average is over $90K, indicating that institutions are still adding positions at high levels, which usually suggests a clear outlook for the market; second, the consistency of the accumulation pace is crucial—it's not a one-time position building but a continuous, phased purchase, reducing risk while also demonstrating sufficient capital.

The holding size of 671,268 BTC is already quite substantial in terms of concentration. From the flow of funds, such large-scale accumulation often creates support levels and also prompts us to observe the next moves of institutions—if they continue to accumulate, the market may still have room to rise; if they start to slow down or adjust strategies, high-level pressure should be watched carefully.

The key now is whether this enthusiasm for allocation can be maintained and whether other institutions will follow suit. It is recommended to continue tracking the movements of large wallet addresses and combine on-chain traffic data to assess the true intentions of these institutions.