The number of bitcoin held in accumulation adresses (Adresses which have only experienced the input of bitcoin, and never withdrawed bitcoin) hit a new ATH in this past bull run, exceeding 2.7 million BTC.
This means a 17% increase compared to 2019.Almost 15% of the BTC supply is held in these addresses.
This indicator is a very bullish sign, as it reflects the confidence of many investors in this currency. We must analyze the evolution of this graph in the short-medium term in order to confirm the confidence levels, as a massive drop in these addresses could affect the mentioned confidence and therefore the stability of the asset, meaning it could add up to a possible (But not very likely) drop to the high-20 thousands.
In my opinion, this data alone shows how strong the BTC market is looking. If we also take into account that the BTC market has seen a 25% correction after its ATH in the last weeks and the number of accumulation addresses has not descreased significantly means that buyers are not willing to sell their BTC.
This also means that the price is psichologically underbought and we can expect the price to rise to new ATH´s and probably exceed most bullish predictions.