Quick Take
The recent Bitcoin price surge, up over 53% since Oct. 14, has been accompanied by a distinctive accumulation pattern among various wallet cohorts.
The Accumulation Trend Score, a metric that measures the relative strength of coin accumulation by entity balance size, has shown intriguing trends. From mid-October to mid-November, the accumulation trend score was 1, indicating strong accumulation across all cohorts. This period, marked by a ‘deep blue accumulation’, reflects a high degree of engagement from participants in the market.
Accumulation Trend Score: (Source: Glassnode)
Interestingly, the two weeks following this accumulation period saw a shift in behavior among the so-called ‘whales’ – entities that own 10,000 BTC or more. Despite the ongoing surge in Bitcoin’s price, which reached a peak of $42,300, these whales began to distribute coins, moving away from their previous accumulation trend.
Accumulation Trend Score by Cohort: (Source: Glassnode)
However,
We współpracy z: https://cryptoslate.com/insights/bitcoin-whales-resume-accumulation-signaling-confidence-in-market-rally/
