The data on the series shows that small bitcoin holders have recently sold their sale operations, while the largest investors have increased their purchase.
Bitcoin accumulation shows the accumulation points of the difference between owners
In new mail In X, Glassnode discussed the set of analyzes in the series the latest trend in the degree of accumulation of various bitcoin holders.
The degree of accumulation is an indicator that mainly tells us whether BTC investors accumulate or distribute. The index calculates its value not only by tracking the balance changes that occur in investor portfolios, but also by calculating the size of the addresses.
When the value of the scale is greater than 0.5, it indicates that big investors (or instead, a large number of young investors) buy. The closer the indicator from one sign, the stronger this behavior.
On the other hand, the result less than 0.5 means that the market is going through a possible distribution stage. In this case, the extreme point lies in the value of zero.
In the context of the current topic, the issuance of the degree of accumulation of accumulation is not the person who does not concern the joint network, but rather that follows the behavior separately for different investor groups.
The titles or those carrying these dust are divided on the basis of the size of the wallet. Below is how the degree of accumulation has changed for each group of groups during the past year:
Looks like most of the market is currently in a phase of distribution | Source: Glassnode on X
As shown in the above graph, the degree of bitcoin accumulation witnessed a value close to the 1st level of most investor groups between November and January, which means strong accumulation. Besides this purchase, BTC enjoyed operating the bull to more than $ 100,000.
With the beginning of this year, though, there was a transformation into the sale, as the index achieved a value close to zero for all regiments in February. Of course, the cryptocurrency has witnessed a landmark as a result of this distribution.
March witnessed that investors are slightly retreating from their sale, but the net situation in the sector remained firmly distributed. From the graph, it is clear that the behavior of a pregnant woman has been almost uniform for most of the year, but recently, the difference has become prominent.
Holders less than 1 BTC, known as retailers, deepened their distribution again, with a decrease in the scale less than 0.2. On the other hand, investors at the opposite end of the spectrum, the largest entity with more than 10,000 BTC, concentrated the focus to accumulation, with the result approaching 0.6.
When the bullish pressure began to abandon Bitcoin earlier, the “huge whales” was the first to start participating in a strong sale. Through this smart regiment now, it is again something different from the rest of the market, it is likely that the other direction will be shifted to the original.
BTC price
Bitcoin opened April with some recovery, as its price rose to the level of $ 84,900.
The price of the coin has been stuck in consolidation lately | Source: BTCUSDT on TradingView.com
Distinctive image from Dall-I, Glassnode.com, Chart from TradingView.com
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