Glassnode: Small BTC wallets sold the rally, whales edge to accumulation

Smaller Bitcoin cohorts sold into the March rally, Glassnode says. Broad-based accumulation is still missing according to its on-chain data.

Glassnode tracks the Accumulation Trend Score. The metric weighs 30‑day balance changes by wallet size. Above 0.5 signals accumulation, below 0.5 shows distribution explains NewsBTC.

• February saw some accumulation across sizes. In March, distribution dominated across cohorts per Glassnode.
• Sub-1 BTC and 1–10 BTC wallets led the selling. Their score fell near zero in early March and stayed low during the push toward $76,000 per Glassnode. Retail flowed out as price recovered notes NewsBTC.
• After the retrace, these small cohorts kept distributing. The 1,000–10,000 BTC group edged just above neutral, signaling light whale accumulation per Glassnode.
• “Broad-based accumulation across wallet sizes remains absent, limiting the sustainability of upward moves,” Glassnode wrote on X.

BTC trades near $66,700 after the latest drop, with momentum muted.