The accumulation trend is spreading top-down:

🔸Whales >10K $BTC remain near peak accumulation (~0.95)

🔸1K–10K and 100–1K $BTC cohorts holding steady around ~0.8–0.9

🔸10–100 $BTC holders are pivoting, trending toward ~0.6.

Only 1–10 $BTC (~0.3) and <1 $BTC (~0.2) remain net distributors.