Bitcoin
$
94,524 regained momentum after dipping below $75,000 in early April, surging up to $94,000. This recovery coincides with the buying activities of influential investor groups in the market.
Big Wallets Show Increased Buying Scores
According to data from the market analysis platform Glassnode, the “Accumulation Trend Score” for wallets holding over 10,000 BTC has reached as high as 0.90. This figure clearly indicates that major players are intensifying their buying activities. Meanwhile, wallets with holdings between 1,000 and 10,000 BTC scored 0.70, while smaller investors have a score around 0.50. Glassnode officials assessed this situation, stating, “Large wallets are capitalizing on the Bitcoin rise.” The significant buying power coming from this segment sheds more light on underlying market trends. These scores reflect not only price movements but also investor psychology and strategy shifts. This means that market dynamism can be explained through both pricing and behavioral aspects.
BTC Withdrawals from Exchanges Accelerate
A separate dataset shared by CryptoQuant shows that Bitcoin withdrawals from centralized platforms have reached their highest level in two years. This data, based on a 100-day moving average, reveals a notable trend. Experts believe that such withdrawals indicate that investors are transferring their assets to personal wallets, shifting their focus from the market to personal storage methods. This suggests a strengthening of long-term holding strategies. Investors are not merely chasing short-term profits; they are also establishing forward-looking positions. CryptoQuant analysts pointed out that compared to past data, these behaviors may indicate a “reaccumulation phase.” The data supports that both large and small wallets are purchasing at different rates during this period. It appears that smaller investors are gradually adapting to this strategy as well. In the current market landscape, it is not just price movements that dictate direction; investor behavior plays a crucial role. The varying scales of asset exchanges provide clues about Bitcoin’s potential price trajectory in the future.
