Bitcoin

Has entered a strong accumulation phase across all walleting shoe shirts for the first time since January, signaling renewed bullish mood as the largest cryptocurrency trades over $ 110,000, an 18% gain over the past month.

Glassnode’s accumulation trend score has reached its maximum value of 1.0, indicating widely based, aggressive accumulation of investors regardless of the amount of BTC they already have. The metric evaluates the relative strength of buying according to different wallet sizes, factoring in both their existing inventory and the acquired amount over the past 15 days. It excludes exchange and miners to avoid distortion.

The latest wave of accumulation began in early May, led by whales that had over 10,000 BTC. When the price began to climb, cohorts followed with minor possessions, which intensified their accumulation behavior.

This marks a significant shift from the period January to April, with most cohorts in reducing their inventory as Bitcoin tumbled from its then record height of $ 109,000 to low about $ 75,000.

The renewed demand is supported by option market activity, where Coindesk research highlights large bullish positions. The $ 300,000 strike for the expiry of June has become the most popular call option with $ 620 million in nominal value, and another $ 420 million is concentrated around $ 200,000 strike.

While Bitcoin historically tends to fall after hitting a high peak due to profits, traditional assets such as the S&P 500 and gold often expand their rallies in similar scenarios. If Bitcoin should follow this more mature asset behavior, it can signal the beginning of a sustained bull cycle, a trend that many in the market are now watching.