Bitcoin
is currently consolidated between $ 107,000 and $ 109,000, remaining only a few percentage points of its record level. Although this tight range may seem stable on the surface, data on the chain suggest a change of feeling among some of the most influential participants on the market, the major holders called whales.
Glassy Accumulation trend scoreA measure of accumulation behavior in various cohorts the size of a portfolio, offers a more in -depth overview of this evolving market dynamic.
The metric assesses the purchasing force by combining the size of the wallet entities with the Bitcoin volume acquired in the last 15 days. For the biggest holders, the value fell to 0.4. A reading closer to 1 indicates solid purchases, while a level close to 0 points to sales. Above all, the portfolios associated with exchanges and minors are excluded from this analysis to provide a clearer image of the behavior of investors.
What stands out is that entities holding 10,000 BTCs or more generally classified as whales were the first to start accumulating at the market in April at around $ 75,000. Now they are starting to reduce their assets while other wallet cohorts remain in accumulation mode. This pivot suggests a strategic change, potentially motivated by the desire to lock the benefits close to the historical heights or a more cautious perspective on the short -term prices department.
The evidence in support of this behavior change comes from flow data that shows that whale portfolios had regularly removed bitcoin during the last month, a bull’s bull’s signal that implies that they were not trying to sell their assets in the short term.
This trend now seems reversed. During two of the last three days, the whales have deposited the BTC on exchanges, a model generally associated with an imminent sales activity.
This nuanced behavior raises the critical question: do whales anticipate a local high?
