Bitcoin, rising 18% over the past month and surpassing $110,000, has entered its strongest accumulation phase since January. Data from analytics firm Glassnode confirms this trend.
Bitcoin Accumulation Trends
According to Glassnode, the accumulation trend score for Bitcoin has reached a maximum level of 1.0, indicating aggressive buying from all wallet groups, from large investors to small ones. Trades from exchanges and miners were excluded from this analysis.
Comparison with Previous Periods
This wave of accumulation, which began in early May, was led by whales holding more than 10,000 BTC. This contrasts with the January-April period when most investors reduced their Bitcoin holdings due to a price drop from $109,000 to $75,000.
Market Prospects and Volatility
Strong bullish positions in the options market also support this increase in demand. The $300,000 call option has become the most popular, with a total open position size of $620 million. An additional $420 million position at the $200,000 level is noteworthy. However, experts caution about potential volatility in the coming weeks.
The current Bitcoin market situation is of significant interest to investors, indicating a potential start of a new bull cycle.
