Bitcoin Accumulation Picks Up as U.S. Investors Fuel Bullish Momentum
Bitcoin (BTC) has surged 10% this week, breaking above $121,000 on Thursday—the highest since its Aug. 14 record, according to CoinDesk data. Several wallet cohorts are shifting from distribution to accumulation for the first time since August, signaling growing market optimism.
The Accumulation Trend Score, which tracks buying versus selling activity over a 15-day period, has climbed to 0.62, according to Glassnode. With a neutral mark at 0.5, this suggests that, on balance, market participants are favoring accumulation. Scores closer to 1 indicate stronger buying pressure, while readings near 0 reflect distribution.
Cohort Dynamics
- Wallets holding 100–1,000 BTC have moved sharply into accumulation after distributing coins last week.
- Holders of 10–100 BTC are beginning to accumulate again.
- Retail wallets under 10 BTC have slowed selling and are showing early buying activity.
- Large whales with 10,000+ BTC remain in distribution, continuing a trend seen since August.
U.S. trading activity has also supported bullish momentum. From Monday through Thursday, Bitcoin gained roughly 8% during U.S. hours alone, according to Velo data, highlighting strong domestic demand.
The combination of renewed accumulation among mid- and small-sized wallets and sustained U.S. trading gains underscores growing confidence in Bitcoin, as investors appear positioned for further upside.
