Bitcoin Wallet Activity Suggests Accumulation Trends Among Small and Large Holders Amid Recent Price Fluctuations
Main Idea
Small and large Bitcoin holders are accumulating during recent price fluctuations, while mid-sized holders show mixed reactions, reflecting varied confidence levels.
Key Points
1. Wallets holding under 1 BTC and over 10,000 BTC have increased, indicating accumulation during the price dip.
2. Mid-sized holders (1 BTC – 100 BTC) exhibit mixed behavior, suggesting indecisiveness or lack of conviction.
3. The 'Trend Accumulation Score' shows recent buying behavior, particularly among retail users and large-scale holders.
4. Bitcoin's price has fluctuated between approximately $110,000 and $117,000, with current levels below $113,000.
5. Glassnode data reveals a sharp increase in Bitcoin wallet activity over 15 days following the price pullback.
Description
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