Bitcoin Whales Back In ‘Full Force’ For The Rally, Glassnode Reveals
Summary
Glassnode reports that large Bitcoin investors, particularly those holding over 10,000 BTC (termed mega whales), have shifted from selling to accumulating Bitcoin during the current price rally. The Accumulation Trend Score, which indicates buying or selling behavior based on wallet balances and sizes, shows a score of 0.9 for mega whales, indicating strong accumulation. In contrast, the broader market has been in a distribution phase, with smaller investors continuing to sell. The next closest group, holding between 100 and 1,000 BTC (sharks), has an Accumulation Trend Score of 0.5. Bitcoin's price recently crossed $94,000 but has since pulled back to $92,600.
