Bitcoin Accumulation Trend Score Indicates Strong Distribution Among Investors

Glassnode's latest report highlights a shift in Bitcoin investor behavior towards significant distribution. The Accumulation Trend Score has recently been low, indicating a lack of accumulation.

Key Points

The Accumulation Trend Score measures the degree of Bitcoin accumulation among investors.
A score near 1 indicates accumulation, while a score close to 0 suggests distribution.
Currently, the score shows a trend towards distribution since January, following a previous phase of strong accumulation that drove a price rally.
Past distribution phases led to prolonged consolidation for Bitcoin; the current decline may continue if the score remains low.
Additional metrics reveal that recent buying activity during price dips lacks significant cost basis support from investors.

Bitcoin's price fell below $77,000 earlier this week but has recovered to approximately $82,500.