“Another Indicator, Thought, Continues to Point to Downward Price Pressure.”, – WRITE: www.coindesk.com
Following MONTS OF DISTRIBUTION OF DISTRIBUTION as Bitcoin Surged to A Record High Above $ 109,000, So-Called Whales-Wallets Holding 10,000 BTC or More-Are Meaningfully Acumulating as Accorging to glassnode data.
The Last Time Whales Were Buying So Aggressely Was in August 2024 with Bitcoin in the $ 50,000- $ 60,000 Range As the Yen Carry Trade Was Unwinding.
Often Considered “Smart Money,” WHALES TEND TO BUY DURING DURING CORRECTIONS AND SELL INTO Strength – A pattern that have played out of conscienceistly over the past eight months.
Despite this renewed WHALE ACTIVITY, BROADER Market Behavior Remains Bearish, With Bitcoin Currently Down 25% from ITS All-Time High. Glassnode’s Accuumulation Trend Score, WHICH TRACKS The BEHAVIOR OF DIFFERENT Wallet Cohorts Over A 15-Day Windows, Shows that MOST Other Investor Groups Are Still in Distribution Mode.
A Score Closer to 1 Signals Acumulation, While A Score Near 0 Indicates Distribution. With An Overall Market Score of Just 0.15, Selling Pressure Remains Dominant. This suggests that while whiles are starting to buy the DIP, Broader Market Sentiment Continues to Lean Bearish, Potentally Putting Further Downward Pressure on.
BTC: Accumulation Trend Score (Glassnode)
X Icon
