Bitcoin Accumulation Range Weakens as Market Shows Low Buying Interest

Bitcoin has faced significant sell-side pressure since January, according to Glassnode's analysis. Key points include:

The current "distribution phase" indicates ongoing selling activity.
The Accumulation Trend Score suggests more sell-side pressure influenced by larger entities.
Prior accumulation occurred in the $95,000 to $98,000 range but has shifted to $78,000 to $92,000, now considered "weak."
Investor sentiment is declining due to negative market momentum and uncertainty surrounding a potential US recession.
Larger institutions are likely to offload Bitcoin as a risk asset when market conditions worsen.

Overall, interest in buying the dip appears to be decreasing amid changing liquidity conditions and macroeconomic factors.