CryptoQuant analysts wrote that around December 21, 2024, institutional investors sold about 79,000 bitcoins in a week, leading to a 15% correction in the market. However, large institutions then took advantage of the market consolidation period to continue buying below $95,000 with a time-weighted average price (TWAP) strategy. Over the past 30 days, institutional investors have accumulated more than 34,000 bitcoins, providing buying support for the recent rally in bitcoin. Despite periods of correction in institutional portfolios, the trend of on-chain bitcoin accumulation since June 2023 remains evident, indicating that institutional investor interest in bitcoin remains high at a time when retail demand is at a five-year low.