- Bitcoin climbed 10% this week, exceeding $121,000 for the first time since August.
- Wallets holding 100–1,000 BTC shifted from selling to buying, reversing a previous trend.
- The Accumulation Trend Score reached 0.62, indicating buyers are becoming more active than sellers.
- Retail holders with less than 10 BTC slowed their selling and started buying again, while wallets over 10,000 BTC kept selling.
- During U.S. trading hours this week, Bitcoin rose roughly 8%, reflecting strong market demand.
Bitcoin increased by 10% this week, moving above $121,000 on Thursday—its highest level since August 14. This price rise came as various groups of wallet holders began to accumulate rather than distribute their coins, marking the first such shift since last August.
Data from Glassnode showed the Accumulation Trend Score, a gauge of market buying versus selling over 15 days, increased to 0.62. A value over 0.5 means overall participants are buying rather than selling. Scores near 1 signal strong accumulation, while values near 0 suggest ongoing distribution.
Wallets containing 100 to 1,000 BTC pivoted from distribution last week to accumulation this week. Wallets holding 10 to 100 BTC also returned to net buying. Retail investors—those with less than 10 BTC—slowed their previous selling and began showing signs of renewed buying. In contrast, so-called “whales” holding more than 10,000 BTC continued their selling behavior, which has lasted since August.
According to Velo data, the U.S. market showed a bullish pattern this week. From Monday to Thursday, Bitcoin prices consistently gained during U.S. trading sessions, climbing approximately 8% within these hours. This steady accumulation points to heightened demand from various investor segments, except for the largest holders who remain on the sell side.
The shift in wallet behaviors and increased U.S. session trading are considered key factors driving the current increase in Bitcoin’s price.
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