Summary
- It was reported that Bitcoin (BTC) investors showed large-scale accumulation in the $116,000~$118,000 range.
- Glassnode reported that about 196,600 BTC, equivalent to around $23 billion, was accumulated in that range.
- They explained that this was strategic accumulation in anticipation of further increases despite the short-term high.
It has been observed that Bitcoin (BTC) investors showed aggressive accumulation activity.
On the 16th (local time), Glassnode stated on X (formerly Twitter), "Investors accumulated approximately 196,600 BTC in the $116,000~$118,000 range," adding, "This amounts to about $23 billion, and aggressive buying is occurring despite short-term highs." They further added, "This is a strategic accumulation, anticipating further increases."
As of 8:47 PM, based on Binance USDT market data, Bitcoin is trading at $118,899, up 1.89% compared to 24 hours ago.
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
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