Bitcoin adoption is rising according to network data, with non-empty wallets reaching a record 58.45 million. The amount of BTC held on known exchange wallets has dropped to its lowest level since 2017 as investors move assets into cold storage. Spot demand appears driven by genuine accumulation rather than leveraged speculation, with U.S. spot Bitcoin ETFs seeing resurgent inflows.
Research from Santiment indicates Bitcoin adoption is increasing despite uncertain market conditions. Their findings revealed a growing trend of investors moving BTC into offline storage, a pattern associated with long-term holding.
The number of separate non-empty Bitcoin wallets has climbed to an all-time high of 58.45 million. This represents a rise of 1.69 million wallets, or 3%, over a six-month period.
Concurrently, the amount of BTC on known exchange wallets has plummeted to only 1.17 million. This is the lowest level for this metric recorded since December 2017.
The rising adoption and shift to cold storage reflect a “buy the dip” trend among investors. Both retail and institutional parties have been accumulating, though institutions appear to be doing so at a greater pace.
U.S. spot Bitcoin exchange-traded funds recently recorded their first major accumulation wave since mid-October 2025. Over a recent 30-day period, however, retail inflows contracted by $5 billion.
Spot demand is also climbing amid geopolitical uncertainty, with unleveraged investors and institutions continuing to buy. Data from the derivatives market shows this demand is not driven by speculative leveraged trades but by genuine accumulation.
This spot-driven demand has pushed BTC’s price back above $70,000 for the first time in three weeks. The cryptocurrency was trading around $70,560 at the time of this report.
