Disclaimer: Information found on CryptoreNews is those of writers quoted. It does not represent the opinions of CryptoreNews on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoreNews covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.
Glassnode’s Accumulation Trend Score declines to 0.04 as smaller wallet groups liquidate BTC amidst escalating macroeconomic challenges.
Accumulation Trend Score by Cohort (Glassnode)
Key points:
- According to Glassnode data, wallets containing 1–10 BTC and 10–100 BTC are experiencing significant distribution, resulting in the overall Accumulation Trend Score decreasing to 0.04.
- Nonetheless, Bitcoin remains around the $70,000 mark, surpassing the performance of stocks and gold since the onset of the Iran conflict.
On-chain analytics from Glassnode indicate that Bitcoin holders across almost all wallet categories have reverted to considerable selling in response to ongoing geopolitical instability in the Middle East.
This distribution is primarily driven by retail investors, who seem to be the principal contributors to the selling pressure.
Related Posts
Glassnode’s Accumulation Trend Score, which gauges whether various wallet groups are in a buying or selling position, has fallen to approximately 0.04, suggesting substantial net distribution throughout the network.
This metric assesses both the size of the entities and the quantity of Bitcoin they have accumulated over the preceding 15 days.
The analysis reveals that smaller holders are at the forefront of the distribution. Wallets with 1 to 10 BTC, typically linked to retail investors, are heavily engaged in selling.
Entities holding 10 to 100 BTC are also distributing at a considerable rate. Even larger participants are not exempt from this pattern. Wallets containing 1,000 BTC or more are also net sellers, though their selling intensity is not as pronounced as that of the smaller cohorts.
Despite the widespread distribution, Bitcoin continues to showcase relative strength in comparison to conventional macro assets.
The U.S. dollar index has climbed above 99.5, the U.S. 10-year Treasury yield has risen to a one-month peak exceeding 4.2%, and Brent crude oil is trading near $100. Generally, higher yields, a stronger dollar, and elevated oil prices create notable challenges for risk assets. Bitcoin’s capacity to stay near $70,000 indicates that underlying demand remains robust, even as on-chain data reflects short-term investor exits.
