Bitcoin whales resume accumulation following brief respite

Quick Take

• The accumulation trend score shows the behavior of all cohorts that are either accumulating or distributing Bitcoin.
• Bitcoin whales with 10,000 BTC or more have accumulated Bitcoin for the better part since April 2023, while Bitcoin has been under $30,000.
• In the past week, whales who hold 10,000 BTC or more had taken a back seat from accumulating but are now back in the groove denoted by the dark blue.
• However, all other cohorts are in a continuous distribution state, which may coincide with increasing macro uncertainty.
• The lack of accumulation by those outside the Whale cohort is a concerning feature.

Analyst View profile →

James Van Straten

Former Lead Analyst • CryptoSlate

James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century's paramount invention.

@jvs_btc LinkedIn

Disclaimer: Our writers' opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies.