Bitcoin Accumulation Increases Despite Market Weakness
- Wallets holding between 1,000 and 10,000 BTC accumulated over 53,000 BTC in the last 60 days.
- Smaller wallets (less than 0.1 BTC) recorded an Accumulation Trend Score of 0.78, indicating strong buying activity.
- BTC wallets with more than 10,000 BTC reduced their holdings by nearly 40,000 BTC during the same period.
- Market analysts identified a quarterly fair value gap for Bitcoin between $56,800 and $44,600 as a potential bottom zone.
- The cumulative value days destroyed-to-price ratio (CVDD) is currently near a historical floor of $46,000.
Despite Bitcoin’s (BTC) lowest-ever readings on the daily and two-week relative strength index (RSI), accumulation is observed among various investor groups, particularly smaller holders and mid-sized investors. This trend suggests sustained demand even amid market volatility.
The significant accumulation by wallets holding less than $10,000 BTC contrasts with larger holders reducing their positions, highlighting a shift in market dynamics amidst current price corrections.(Source)
