Large Bitcoin holders accumulated 54,000 BTC worth $4.7 billion in the past week, according to on-chain data, marking the fastest accumulation pace since 2012.

The buying comes despite Bitcoin’s lack of momentum over the past month, with the asset drifting between $85,000 and $93,000. At press time, BTC was trading around $87,300, reflecting ongoing uncertainty among traders despite aggressive accumulation by large addresses.