Bitcoin Accumulation Is Returning, Glassnode Report Reveals
Summary
Glassnode's report shows a surge in Bitcoin accumulation behavior, with the Accumulation Trend Score reaching 1. Large entities and small holders are participating in accumulation, particularly the 10,000+ BTC cohort, indicating a return to accumulation behavior. The last time such levels of accumulation were seen was during the rally to the all-time high, suggesting a potential bullish effect on Bitcoin's price. Currently, Bitcoin is trading around $61,300, up more than 7% over the past week.
