In bear markets, holders accumulate showing unwavering faith. The other side of that is a decrease in the “willingness to spend” or use the assets. The latest Intotheblock report “highlights the diverging pictures between on-chain demand and accumulation of the largest two crypto-assets.” Some people still have trouble admitting we’re currently in a bear market,…
The best time to accumulate is when prices are low. Even though Bitcoin has had a huge rally this week the digital asset is still 75% down from its all-time high. Looking at previous accumulation periods may offer some insight into the current market situation. 200 Days of Accumulation Last time Bitcoin went through a…
Studying Bitcoin wallets and the number of BTC they hold shows evidence of a growing pattern of accumulation of the digital asset. The number of Bitcoin addresses with a balance of more than one BTC has been consistently increasing since the launch of the cryptocurrency more than a decade ago.Despite volatility that has seen the…
Bitcoin’s chart has looked heavy, but the on-chain picture is not quite as one-sided as the price action suggests. Glassnode’s latest Week Onchain report points to a market where pain is obvious, but where accumulation is also starting to show up underneath the surface. That is a very Bitcoin kind of setup: sentiment weak enough…
For the past twenty days cryptocurrency markets have hold on to gains and formed new trading ranges. In terms of total market capitalization this is between $170 and $185 billion with Bitcoin holding above $5,000. More analysts, using previous chart patterns as a guide, are of the opinion that this consolidation could continue for several…