BEARISH 📉 : Bitcoin Investors Show Weak Accumulation Amid Recent Price Drop

Glassnode reports that Bitcoin's recent accumulation during the price drop is weaker compared to past crashes.

Key Points:

  • The Bitcoin Accumulation Trend Score indicates current investor behavior, showing whether investors are accumulating or distributing.
  • A score above 0.5 suggests accumulation by large holders; below 0.5 indicates distribution.
  • Recently, the score moved above 0.5, suggesting some accumulation, but not as strong as in previous market reactions.
  • In contrast, past events like the November crash and 2022 bear market saw more aggressive accumulation.

Bitcoin Accumulation Trend Score

Bitcoin's current price is under most major on-chain pricing models except the Realized Price, at $54,900.

BTC Price

Bitcoin is stable around the $68,000 level after recovering from a low of $60,000.

Bitcoin Price Chart