Bitcoin Mega Whales Keep Buying—Is Rest Of Market Finally Catching Up?
Large Bitcoin investors have continued to buy, as indicated by on-chain data from Glassnode. The Accumulation Trend Score, which measures buying or selling activity among different Bitcoin holder cohorts, shows that large addresses are accumulating when the score exceeds 0.5. Currently, the score for holders of 10,000+ BTC, termed "mega whales," has reached approximately 0.7, indicating strong accumulation since March. Other cohorts, particularly those holding 10 to 100 BTC, are nearing accumulation territory with a score of 0.5, suggesting a potential shift in sentiment among mid-sized holders. Overall, while the market has seen a decrease in selling pressure, most cohorts have not yet entered accumulation. Bitcoin's price remains stable around $84,500.
