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Definition This metric breaks down the Accumulation Trend Score into the relative behaviour by various entity wallet cohorts. The relative strength of the accumulation for each entity balance size is measured by […]
This metric breaks down the Accumulation Trend Score into the relative behaviour by various entity wallet cohorts.
The relative strength of the accumulation for each entity balance size is measured by the entities’ size and the amount of coins they have acquired over the last 15 days.
A value closer to 1 indicates that participants in that cohort are accumulating coins.
A value closer to 0 indicates that participants in that cohort are distributing coins.
A list of entities including exchanges and miners, are excluded from the calculation.
Bitcoin whales who hold 1,000 BTC or more have started to accumulate once again for the first time since mid-November.
Since the FTX collapse, all cohorts have been in distribution, not accumulation, mainly due to disbelief in the rally.
If Bitcoin continues to go lower or ranges below $20,000, we would expect significant accumulation to continue from all cohorts.
Whales would start the accumulation as they are considered the smart money of the ecosystem.
Accumulation Trend Score by cohort: (Source: Glassnode)
The post Bitcoin whales are the first cohort to start accumulating below $20k appeared first on CryptoSlate.
