Of those 170 days, 154 days were spent accumulating BTC. Some days noted a very active buying sprees, whereas others seemed a bit meek in comparison. When the prices hit a low in early March,  several holders kept accumulating by buying at these lower prices. That is normal behavior, as cost-averaging is crucial with any investment.


https://cryptomode.com/long-term-bitcoin-holders-accumulated-233000-btc-in-2020-so-far/