Bitcoin
Consolidates currently between $ 107,000 and $ 109,000, with only a few percentage points shy for its highest time. While this tight range may appear stable on the surface, data on the chain suggests a shift in mood among some of the market’s most influential participants, the great holders known as whales.
Glassnode’s The score of accumulation trendA measure of accumulation behavior across different cohorts of wallet size provides deeper insight into this developing market dynamic.
Metric evaluates the strength of purchasing by combining the size of wallet units with the amount of bitcoin acquired over the past 15 days. For the greatest holders, the value has dropped to 0.4. A reading closer to 1 indicates strong purchases, whereas a level near 0 points for the sale. Of crucial importance, wallets associated with exchanges and miners are excluded from this analysis to provide a clearer picture of investor behavior.
What stands out is that units that hold 10,000 BTC or more typically classified as whales were the first to start gathering on the April of April at about $ 75,000. Now they are starting to reduce their inventory while the other walleting shirts remain in accumulation mode. This turn suggests a strategic shift that is potentially driven by a desire to lock profits near historical heights or a more cautious view of short -term price direction.
Supporting evidence of this shift in behavior comes from exchange data data showing that the whale audience was steadily withdrawing Bitcoin over the past month, a bullish signal that means they were not looking to sell their holdings in the short term.
This trend now seems to be returning. For two of the past three days, whales have deposited BTC back on exchanges, a pattern that is often associated with impending sales activity.
This nuanced behavior raises the critical question: expect whales a local top?
