Glassnode -Data shows that all walleting shoes have returned to distribution mode with a net sales of Bitcoin, according to Accumulation Trend score collapse of the wallet shoe shirt.
This metric disaggregates accumulation trend scores to show the relative behavior of different groups of wallet. It measures the strength of accumulation for each balance size based on both the size of the units and the amount of coins acquired over the past 15 days. (For more details of the methodology, see this academy input.)
- A value closer to 1 signals accumulation of this cohort.
- A value closer to 0 signaling distribution.
Exchange, miners and other similar units are excluded from the calculation.
Currently, all cohorts are from wallets that hold less than a bitcoin to those holding more than 10,000, net sellers. This follows last week’s rally when some whales-ice-Clear 10-100 BTC and 1,000-10,000 BTC cohorts bought. They have since returned to sale.
Bitcoin recently hovered near $ 117,000 after Asia’s trade session pushed it up from $ 115,000 over the weekend. Over the past three months, Asia has consistently operated Bitcoin approx. 10 percent higher, according to VELO data. In contrast, the European trade session has been marked by withdrawals that have been seen so far Monday. In addition, Bitcoin is down more than 10% in the EU market in the last three months.
Generally, the market in consolidation remains a trend that is likely to continue through September. On current data, the $ 107,000 marked in early September still seems to be the most likely bottom.
