Oh, the drama! π The minnows of Bitcoin, our beloved retail investors, have been frantically hitting the sell button, while the ‘mega whales’, those behemoths of the crypto world, are diving in to gobble up the dip. π³π
Bitcoin’s Accumulation Trend Score: A Tale of Two Cohorts ππ
Our friends at Glassnode, the on-chain analysts extraordinaire, have spotted an intriguing trend in the Bitcoin Accumulation Trend Score. This metric, dear reader, is like a crystal ball for investor behavior. It doesn’t just peek into the wallets of BTC holders but also sizes up the addresses. π΅οΈββοΈπ°
When the score is above 0.5, it’s a signal that the big boys (or a horde of tiny traders) are buying. The closer to 1, the more aggressive the accumulation. But below 0.5, it’s distribution time, with the ultimate low point being a big fat zero. π±
Now, here’s where things get interesting. Instead of looking at the whole network, we’re focusing on separate investor groups. And what do you know? Here’s how the score has danced around for each group in the past year:
From November to January, the score was flirting with perfection for most groups, signaling robust accumulation. Bitcoin soared to the moon, passing the $100,000 mark. πβ¨
But then came February, when the score plummeted to near zero for everyone, spelling doom and gloom. Bitcoin felt the wrath of the bear. π»…
March brought a slight reprieve, but the market remained in distribution mode. Until recently, when a divergence appeared. Retail investors, the little guys, doubled down on selling, sending the score south. Meanwhile, the ‘mega whales’, those with more than 10,000 BTC, turned their attention to accumulation, pushing the score towards 0.6. π¬…
Could this be a harbinger of change for Bitcoin? As these ‘mega whales’ swim against the tide, could a trend reversal be on the horizon? π …
BTC Price: A Glimmer of Hope?
April showers bring May flowers, or so they say. Bitcoin seems to be enjoying a bit of sunshine, with prices bouncing back to the $84,900 level. π…
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2025-04-03 09:43