Bitcoin Mega Whales Buy More

According to on-chain statistics, the biggest Bitcoin investors have kept buying. Check out if other cohorts have followed these giants.

The “Accumulation Trend Score” shows whether Bitcoin investors are purchasing or selling. The statistic tracks wallet balance movements and holding size. This indicates that the indicator prioritizes big investor changes.

The score over 0.5 indicates accumulation by big addresses or many tiny organizations. This trend strengthens as the metric approaches 1.

However, an indictor under 0.5 indicates that holders are distributing or not accumulating. The extreme point is 0.

Each investor cohort's Accumulation Trend Score is more relevant to this issue than the sector's. The appropriate method to categorize holders is by wallet size.

From the analytics firm's indicator chart, Bitcoin holders' behavior has altered over the last year.

After this selloff, the indicator's value has increased for each cohort, indicating a cooling of selling pressure. However, the 10,000+ BTC holders have differed greatly from the others throughout this cooling.

Many investors holding 1,000 to 10,000 BTC are called whales, therefore these much larger holders may be called “mega whales.”

According to the chart, this group started purchasing in March and has since increased its Bitcoin Accumulation Trend Score to roughly 0.7.

This phase has seen the remainder of the market ease distribution, although none have reached accumulation. However, 10 to 100 BTC investors are close with a 0.5 score. “This suggests at a possible shift in sentiment from mid-sized holders,” says Glassnode.

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