The feeling in the cryptography industry can change quickly.
According to Glassnode data, all Bitcoin
Portfolio cohorts are currently in a distribution form. The score of the accumulation trend (ATS)Decomposed by portfolio cohort, helps to measure the relative resistance of accumulation or distribution between entities sizes.
This metric assesses the accumulation force by considering both the size of the entities and the amount of bitcoin acquired in the last 15 days.
- A score closer to 1 indicates the accumulation.
- A score closer to 0 indicates the distribution.
Exchanges, minors and some other entities are excluded from the calculation.
Currently, large supports with more than 10,000 BTCs with small wallets containing less than 1 BTC, all cohorts seem to be in distribution. This marks a net reversal of a little over a week ago, when all the groups were in accumulation mode while Bitcoin has reached new peaks of all time above $ 124,000.
The current distribution phase reflects the profits. Historically, Bitcoin tends to correct shortly after the definition of new records. The aggregate trend score printed 0.26, remaining below 0.5 in the past few days.
Bitcoin posted four consecutive green months from April to July. However, August is often characterized by a quieter commercial activity and a reduced volume. In fact, the last three August have each seen corrections in the two -digit percentage range.
