Liquidity Pressures Mount, But Long-Term Bitcoin Buyers Continue Accumulation

Large Bitcoin wallets, which are often called “accumulator” wallets, have been actively buying Bitcoin, the world’s largest cryptocurrency by market cap, since the beginning of this month. The broader cryptocurrency market downturn and various macroeconomic factors have softened digital asset prices in recent times. December has been pivotal for virtual assets, including top performers such as BTC, SOL, ETH, XRP, etc. The latest market data suggest that large wallet holders are actively accumulating digital assets like BTC during this period. Based on the analytics till December 11, data trackers have observed around 75,000 BTC purchases between December 1 and 10.

CryptoQuant analyst and market decoder DarkFrost observed and confirmed that BTC buying from accumulator addresses had not stopped.

📈 BTC buying from accumulator addresses just doesn’t stop.

Between December 1 and December 10, more than 75 000 BTC were added to the supply held by these very specific types of addresses.

💥 In just a single day, from December 9 to December 10, 40 000 BTC were accumulated.… pic.twitter.com/EncexfMUbw

— Darkfost (@Darkfost_Coc) December 11, 2025

He noted that between December 1 and December 10, more than 75,000 BTC had been added to the supply held by these specific types of addresses. He highlighted that in just one day, from December 9 to December 10, 40,000 BTC were accumulated. DarkFrost further stated that these addresses now hold roughly 315,000 Bitcoin and that the trend continued to climb. He also added that these investors continued to accumulate and did not appear to be particularly affected by the current market conditions or momentum.

Shrinking Market Liquidity Raises Volatility Risks for BTC

Currently, Bitcoin’s market liquidity is weak in the cryptocurrency market. Low liquidity in the market means that exchanges now have fewer sell orders waiting, so big wallet traders swing prices sharply rather than absorbing them smoothly. This phenomenon makes the price more sensitive to large traders and makes it harder to break out of key ranges. Blockchain analytics firm Glassnode tweeted on X that unrealized losses across the crypto ecosystem had recently climbed to around $350 billion, including approximately $85 billion in Bitcoin alone.

Unrealized losses across the crypto ecosystem have recently climbed to ~$350B, including ~$85B in BTC alone.
With multiple on-chain indicators signalling shrinking liquidity across the board, the market is likely entering a high-volatility regime in the weeks ahead.… pic.twitter.com/6PqAMNh1HG

— glassnode (@glassnode) December 11, 2025

The firm noted that multiple on‑chain indicators were signaling shrinking liquidity across the board, suggesting that the market was likely entering a high‑volatility regime in the weeks ahead. 

Experts Say Fed’s Measures Won’t Fuel Explosive BTC Breakout, Point to Gradual Holiday Rally

The Federal Reserve is providing some liquidity programs to offer some support to the broader cryptocurrency market. But at the moment, those programs are not helping and pumping new capital directly into crypto. According to the expert analysis, the current liquidity programs organized by the Federal Reserve are not providing BTC the liquidity tailwind that might fuel dramatic rallies. Based on their latest analysis, they expect a “low-liquidity run-up” rather than an explosive breakout, meaning that BTC, the world’s largest digital asset, will lead a slow rally into the holidays rather than an explosive price surge.

An earlier report confirmed that the Federal Reserve would purchase around $40 billion in short‑term Treasury bills each month. But now, they are framing this move as a “technical” step to seamlessly run the financial system. The Federal Reserve, in its official press release released on December 10, commented regarding the policy adjustment and stated that the Committee had decided to lower the target range for the federal funds rate by one‑quarter percentage point to 3‑1/2 to 3‑3/4 percent. It explained that in considering the extent and timing of further adjustments, the Committee would carefully assess incoming data, the evolving outlook, and the balance of risks. The release also noted that reserve balances had declined to ample levels and that the Committee would initiate purchases of shorter‑term Treasury securities as needed to maintain an ample supply of reserves on an ongoing basis. The recent rate cut could impact BTC, because when interest rates are lowered, borrowing becomes cheaper, so investors move to riskier assets like Bitcoin, Ethereum, Solana, etc.