Bitcoin Accumulation Grows Despite Record Low RSI Readings
- Bitcoin’s (BTC) daily and two-week relative strength index (RSI) hit all-time lows, indicating weak momentum.
- Wallets holding between 1,000–10,000 BTC accumulated over 53,000 BTC in the last two months.
- Smaller wallets (holding less than 0.1 BTC) achieved an Accumulation Trend Score of 0.78, the highest among tracked cohorts.
- Larger holders with over 10,000 BTC reduced their balances by approximately 39,840 BTC during the same period.
- Analysts identified a quarterly fair value gap for Bitcoin between $56,800 and $44,600 as a potential bottom zone.
Despite the current downside risk highlighted by low RSI readings, accumulation trends show significant buying activity from both smaller investors and mid-sized holders of Bitcoin. The contrasting behavior of larger entities suggests ongoing demand from smaller cohorts while larger holders are trimming their positions.
The recent accumulation trend indicates strong interest in Bitcoin even as prices decline, with wallets holding less than $100 BTC leading the way in buying activity. Over the past two months, wallets with more than Bitcoin have shown notable increases in holdings despite market volatility.
