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Bitcoin Investors Favor Accumulation Over Distribution Amid Price Surge: Glassnode
In the midst of a remarkable price surge, it has become increasingly apparent that Bitcoin (BTC) investors are opting for accumulation over distribution. According to data from market research firm Glassnode, this trend has persisted for two months now.
The current accumulation wave began when BTC rallied past $100,000 and, despite the asset hitting new highs recently, there is still a supply crunch in place. This supply shortage suggests that investors perceive current prices as offering relatively compelling value, thereby fueling their desire to hold onto their assets rather than sell them.
Glassnode’s Accumulation Trend Score indicates that this surge of accumulation started once Bitcoin surpassed $100,000 and has continued even after the all-time high (ATH) of over $111,000 in May. The metric has been hovering above its historical average as BTC sat through an extended consolidation period.
Notably, even with the asset trading at new highs, investors still show no signs of distributing their holdings. This is a stark contrast to the previous distribution phase observed in late 2024, which was marked by similar price conditions. The fact that such accumulation persists suggests that holders increasingly view the current market environment as more favorable.
Further evidence supporting this accumulation trend can be found within the growing supply held by long-term holders (LTHs). Not only are LTHs increasing their balances at a pace of 19,300 BTC per month, but they are also outpacing the monthly issuance rate of miners. Miners produce approximately 13,400 BTC each month.
Data highlights that investors with smaller holdings, categorized as ‘Shrimps’ (less than 1 BTC), ‘Crabs’ (1-10 BTC), and ‘Fishes’ (10-100 BTC), are also accumulating their assets.
Source: cryptopotato.com
