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Bitcoin
Bitcoin (BTC)
$112,547.00 -1.56191
Bitcoin price
Ethereum
Ethereum (ETH)
$4,602.22 -4.68447
Ethereum price
BNB
BNB (BNB)
$867.68 -0.01246
BNB price
Solana
Solana (SOL)
$197.36 -4.54355
Solana price
XRP
XRP (XRP)
$2.95 -2.47092
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000124 -3.99165
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000102 -5.87491
Pepe price
Bonk
Bonk (BONK)
$0.0000209 -6.30816
Bonk price
dogwifhat
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$0.809541 -7.76314
dogwifhat price
Popcat
Popcat (POPCAT)
$0.2683 -4.61631
Popcat price
Bitcoin
Bitcoin (BTC)
$112,547.00 -1.56191
Bitcoin price
Ethereum
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$4,602.22 -4.68447
Ethereum price
BNB
BNB (BNB)
$867.68 -0.01246
BNB price
Solana
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$197.36 -4.54355
Solana price
XRP
XRP (XRP)
$2.95 -2.47092
XRP price
Shiba Inu
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$0.0000124 -3.99165
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000102 -5.87491
Pepe price
Bonk
Bonk (BONK)
$0.0000209 -6.30816
Bonk price
dogwifhat
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$0.809541 -7.76314
dogwifhat price
Popcat
Popcat (POPCAT)
$0.2683 -4.61631
Popcat price
Bitcoin
Bitcoin (BTC)
$112,547.00 -1.56191
Bitcoin price
Ethereum
Ethereum (ETH)
$4,602.22 -4.68447
Ethereum price
BNB
BNB (BNB)
$867.68 -0.01246
BNB price
Solana
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$197.36 -4.54355
Solana price
XRP
XRP (XRP)
$2.95 -2.47092
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000124 -3.99165
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000102 -5.87491
Pepe price
Bonk
Bonk (BONK)
$0.0000209 -6.30816
Bonk price
dogwifhat
dogwifhat (WIF)
$0.809541 -7.76314
dogwifhat price
Popcat
Popcat (POPCAT)
$0.2683 -4.61631
Popcat price

Glassnode: Bitcoin accumulation reaches 3-month high

Dorian Batycka
Edited by
News
Glassnode: Bitcoin accumulation reaches 3-month high

The Bitcoin (BTC) accumulation phase seems to have started as the BTC price wanders below the $60,000 mark for a week.

According to data provided by Glassnode, the BTC accumulation trend surged from 0.05 on June 1 to 0.44 as of July 10. This level hasn’t been seen since April 11, when the flagship cryptocurrency traded for $70,000.

Glassnode: Bitcoin accumulation reaches 3-month high - 1
BTC price and accumulation trend score – July 11 | Source: Glassnode

The indicator started to rise while the German government was offloading its BTC holdings over the past week, causing a market-wide bearish momentum and FUD (fear, uncertainty and doubt). Consequently, the Bitcoin price plunged below the $54,000 mark.

On July 10, CryptoQuant reported that the Bitcoin whales started accumulating the asset while the market wandered in uncertainty, increasing their balances at a 6.3% monthly rate. 

Per data from Glassnode, the number of whales holding at least 1,000 BTC — roughly $58.2 million at the reporting time — rose from 1,640 on July 1 to 1,643 on July 10.

This movement shows that big whales expect a market rebound despite the bearish selloffs by the German government.

Today, Bitcoin and most of the large altcoins saw a downward momentum ahead of the U.S. inflation data release, scheduled for today at 08:30 ET (12:30 UTC). The global crypto market capitalization slipped by 1% and is currently sitting at $2.24 trillion.

BTC is down by 1.35% in the past 24 hours and is trading at $58,200 at the time of writing. The asset’s market cap is hovering at $1.14 trillion with a daily trading volume of roughly $25 billion.