True believers in Bitcoin are going all-in and accumulating like crazy. Glassnode data shows: Since January 2026, High Conviction Buyers have been steadily accumulating BTC in large amounts. The most noteworthy part— The last time we saw this phenomenon on such a large scale was during the 2022 bear market. Back then, BTC was plummeting, and High Conviction Buyers kept scooping up the coins dumped by the market. This time, it’s even more intense: The BTC accumulated by this group now accounts for over 20% of the total supply, surpassing the peak accumulation levels of 2022. As prices drop significantly from their highs, Retail investors see: “The bear market is here, time to bail.” But another group sees: “Bitcoin is finally cheap, time to keep buying.” The massive accumulation in 2022 ultimately happened near the bottom of the last bear market. History doesn’t always repeat itself, But what if this group of high-conviction capital gets it right again? The true bottom often isn’t when everyone starts buying like crazy, It’s when coins move from those without conviction to those with the strongest belief. BTC Bitcoin 比特币