Bitcoin
Bitcoin (BTC)
$66,779.00 1.02252
Bitcoin price
Ethereum
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$2,594.47 -1.55473
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BNB
BNB (BNB)
$592.25 0.52075
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Solana
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$153.23 -2.41276
Solana price
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$0.539951 -1.39746
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$0.000018 -4.03566
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$0.0000102 -6.04736
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$0.0000221 -4.78213
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Bitcoin
Bitcoin (BTC)
$66,779.00 1.02252
Bitcoin price
Ethereum
Ethereum (ETH)
$2,594.47 -1.55473
Ethereum price
BNB
BNB (BNB)
$592.25 0.52075
BNB price
Solana
Solana (SOL)
$153.23 -2.41276
Solana price
XRP
XRP (XRP)
$0.539951 -1.39746
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.000018 -4.03566
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000102 -6.04736
Pepe price
Bonk
Bonk (BONK)
$0.0000221 -4.78213
Bonk price
Bitcoin
Bitcoin (BTC)
$66,779.00 1.02252
Bitcoin price
Ethereum
Ethereum (ETH)
$2,594.47 -1.55473
Ethereum price
BNB
BNB (BNB)
$592.25 0.52075
BNB price
Solana
Solana (SOL)
$153.23 -2.41276
Solana price
XRP
XRP (XRP)
$0.539951 -1.39746
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.000018 -4.03566
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000102 -6.04736
Pepe price
Bonk
Bonk (BONK)
$0.0000221 -4.78213
Bonk price
Bitcoin
Bitcoin (BTC)
$66,779.00 1.02252
Bitcoin price
Ethereum
Ethereum (ETH)
$2,594.47 -1.55473
Ethereum price
BNB
BNB (BNB)
$592.25 0.52075
BNB price
Solana
Solana (SOL)
$153.23 -2.41276
Solana price
XRP
XRP (XRP)
$0.539951 -1.39746
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.000018 -4.03566
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000102 -6.04736
Pepe price
Bonk
Bonk (BONK)
$0.0000221 -4.78213
Bonk price

Glassnode: Bitcoin accumulation reaches 3-month high

glassnode-bitcoin-accumulation-reaches-3-month-high
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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.