"Strengthening Bitcoin Accumulation Trend... Highest Since Early This Year"
JOON HYOUNG LEE
Summary
- "The accumulation trend of Bitcoin is strengthening, with the 'Accumulation Trend Score' reaching a high of 0.34 since the beginning of the year."
- "Glassnode emphasized that wallets are entering Bitcoin 'accumulation mode,' indicating that large investors are re-entering the market."
- "The strengthening of Bitcoin's accumulation trend suggests that investors are moving back into the market despite recent price weaknesses."
The accumulation trend of Bitcoin (BTC) is strengthening.
On-chain analysis firm Glassnode announced on the 16th (local time) via its official X account that "the current 'Accumulation Trend Score' of Bitcoin is 0.34," stating that it is "the highest level since the beginning of the year."
Glassnode emphasized that "wallets are re-entering the 'accumulation mode' for Bitcoin." It further stated that "this is interpreted as a signal that large investors are gradually re-entering the market despite the recent price weakness."
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul![[Exclusive] South Korea’s FSS to look into ZKsync coin after a 1,000% surge in just three hours](https://media.bloomingbit.io/PROD/news/073d8ae6-ffa0-4b8b-85dd-3f131d9eb908.webp?w=250)
