Bitcoin traded below $67,000 as retail investors led a broad sell-off, while larger holders largely remained on the sidelines. Glassnode’s cohort-based Accumulation Trend Score shows that wallets under 10 BTC are driving the most selling, with near-zero accumulation signaling aggressive distribution. Among large holders, whales and others have largely paused activity, showing limited selling and redistribution signals.
The cohort data indicate that Bitcoin’s drop below $67,000 points to retail-led selling pressure as individual investors dominate the market move. The 30-day accumulation trend score by wallet cohort measures the relative behavior of entities accumulating or distributing coins, combining each cohort’s holdings with changes in net balance over the past 30 days; scores closer to 1 indicate accumulation by large actors, while scores near 0 suggest distribution or a lack of accumulation. Currently, the strongest selling pressure comes from retail investors holding less than 10 BTC. Wallets under 1 BTC show a score of 0.11, while those holding 1–10 BTC show a lower 0.05, implying aggressive distribution.
Across higher cohorts, selling pressure is less pronounced; whales holding 1,000–10,000 BTC carry about a 0.5 score, indicating a neutral stance. The largest group, those with more than 10,000 BTC, shows some selling but not at the levels seen when Bitcoin traded above $90,000 late last year. Entities holding 100–1,000 BTC also exhibit notable selling. Since Bitcoin briefly dipped toward $60,000 in early February, accumulated buying has been limited.
The current trend suggests retail capitulation, while large investors prefer to stay on the sidelines rather than actively buying. Altcoins have drawn increased short-selling interest, underscoring a broader risk-off sentiment across the market.
Leave a Reply