Data on the chain reveal that the groups of Bitcoin owners largely participate in distribution, but one key cohort has sturdy accumulation.

The result of the Bitcoin accumulation trend says that 1000 to 10,000 BTC owners are buying

In recent post At X, the Analytical Firma in the Glassnode chain shared an update how the result of the accumulation trend is looking for various Bitcoin investors.

This indicator tells us whether Bitcoin owners are now gathering or distributing. This takes into account two factors when determining this: a change in balance in investor portfolios and the size of the portfolios involved.

The record represents market behavior as a result between 0 and 1. Of course, because the size of the portfolio is also considered, larger beings have a greater impact on this result.

When the indicator is below 0.5, it means that enormous investors (or a enormous number of miniature entities) take part in distribution. The closer the value up to 0, the stronger this behavior is.

On the other hand, the record above the sign suggests that the market is in the accumulation phase. On this side 0.5 the extreme point lies at 1, which corresponds to the strongest possible purchase behavior.

Here is the chart divided by Glassnode, which shows the trend as a result of the accumulation trend for different Bitcoin user segments:

Looks like the score isn't uniform across the market at the moment | Source: Glassnode on X

As you can see in the graph above, the result of the Bitcoin accumulation trend bends towards being red for most investors, which indicates that the distribution is observed.

Kohort, which shows the strongest sales behavior, is one coin from 1 to 10. This group includes retail hands that belong to the smallest entities on the web.

While the market as a whole was distributed, one Kohort stood out: from 1000 to 10,000 BTC owners. At the current exchange rate, the boundaries of the range are transformed into USD 109.5 million in the lower and USD 1.095 billion in the upper part. So this group represents traders with great money, popularly known as whales.

The table shows that the result of the cohort accumulation trend is very close to 1, which suggests that these huge beings show almost perfect accumulation behavior.

The trend is very contrary to what retail investors display. “This discrepancy emphasizes the clear division of belief between small and large owners,” notes the analytical company.

Now it turns out whether the stubborn belief displayed by whales will pay off or whether investors have left, it turns out that they are bright.

BTC price

At the time of writing, Bitcoin sails about USD 109,500, unchanged from a week ago.

The trend in the price of the coin over the last five days | Source: BTCUSDT on TradingView

A distinguished picture from Dall-E, Glassnode.com, Chart from TradingView.com

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