BTC has been entering the strongest stages of accumulation since January while the price of Bitcoin leads to $ 110k
Bitcoin
has entered a strong phase of accumulation in all wallet cohorts for the first time since January, the signing of the modified bullish feelings as the largest cryptocurrency trade of over $ 110,000, a 18% gain last month.
Glassnode’s accumulation mark reaches the maximum value of 1.0, indicating a wide-based, aggressive accumulation of investors irrespective of the value of the BTC they are already holding. The scale evaluates the relative -child power of the purchase by different purse sizes, which testifies both existing handles and the amount obtained over the past 15 days. Exchanging and miners are not included to prevent distortion.
The latest wave of accumulation began in early May, led by whales holding more than 10,000 BTCs. As the price began to climb, the cohorts followed with smaller handles, intensifying their accumulation behavior.
It marks a significant shift from the January-to-April period, if most cohorts reduce their holdings as Bitcoin collapses from its record of $ 109,000 to lows around $ 75,000.
Modified demand is supported by market activity options, including CoinDesk research The highlighting of large bullish positions. The $ 300,000 strike for Expiration of June has become the most popular call option, with $ 620 million in a notional value, and an additional $ 420 million is concentrated around $ 200,000 strikes.
While Bitcoin’s history tends to fall after hitting a full time due to income extraction, traditional properties such as S&P 500 and gold often expand their rallies in similar situations. If Bitcoin follows the more mature behavior of the owner, it can signal at the beginning of a long bull cycle, a trend that many in the market are now watching.
