Bitcoin Witnesses Extremely Rare Bullish Signal, But There's a Catch

Key Points

1. On-chain data shows significant accumulation of Bitcoin by wallets holding 0-1 BTC and those holding over 10,000 BTC in the last 15 days.

2. Mid-sized wallets (1-100 BTC) displayed mixed behavior, with some adjusting exposure and others remaining unchanged.

3. The 'Trend Accumulation Score' metric highlights this divergence in buying patterns among different wallet sizes.

4. Bitcoin's price dropped from around $117,000 to $110,000 at the end of July, but dip-buying activity has been observed.

5. The data suggests initial dip-buying behavior smoothed over a 15-day window, indicating potential market stabilization.