Wallet owners with balances of at least 10,000 BTC have shifted from buying to distributing coins, while investors with smaller positions continue to accumulate digital gold. This is reported by CoinDesk.
Such conclusions arise from the change in the Accumulation Trend Score indicator, which shows the dynamics of the accumulation degree across various categories of addresses.
For the largest holders, the score has dropped to 0.4. The metric varies from 0 (dominance of sales) to 1 (dominance of purchases).
On-chain analysis complements the dynamics of coin flows from major players from exchanges to non-custodial wallets. In two of the last three days, whales have started to deposit bitcoins back into accounts on CEX, which is usually associated with an upcoming sale.