Bitcoin Accumulation Strengthens... ‘Accumulation Trend Score’ Rises from 0.25 to 0.57
Summary
- On-chain analytics firm Glassnode reported that the Bitcoin Accumulation Trend Score has risen from 0.25 to 0.57.
- Glassnode pointed out that there is no consistent behavior among wallet groups.
- Wallets holding 1–10 bitcoins are showing selling activity, while those holding 10–100 are showing buying pressure.
The Accumulation Trend Score for Bitcoin (BTC) has rebounded.
On June 26 (local time), on-chain analytics firm Glassnode announced via its official X (formerly known as Twitter) account, “The Bitcoin Accumulation Trend Score has increased from 0.25 to 0.57.” The Accumulation Trend Score is a metric that tracks changes in bitcoin investors’ balances over the last 30 days. A higher score indicates that investors are aggressively purchasing bitcoin.
Glassnode pointed out, “(However) the Accumulation Trend Score shows that there is no consistent behavior among wallet groups.” Glassnode analyzed, “While Bitcoin attempts to recover to the $108,000 range, wallets holding 1–10 bitcoins continue to sell, whereas wallets holding 10–100 bitcoins are showing buying pressure.”
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
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