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.