After Bitcoin fell below 60 thousand dollars at the beginning of this month, it was seen that investors turned to buying. According to on-chain data provider Glassnode, a net 259 thousand 298 BTC has been collected since June 5, between 59 thousand and 67 thousand dollars.
Purchases spread across different investor groups
The data showed that purchases were not just limited to large wallets. Accumulation was tracked across all major groups, from small investors holding assets under 1 BTC to larger wallets with balances between 100 and 1,000 BTC. This picture indicated that demand spread over a wide base after the last decline.
Accumulation Tendency Score prepared by Glassnode according to wallet groups reached the level of 1.0. This indicator measures the strength of the buying trend, taking into account both the size of buyers and the amount collected over the last 15 days.
Mini dictionary: Accumulation Propensity Score is an indicator that measures whether investor groups are buying or selling with on-chain data. A score approaching 1.0 indicates a strong aggregation trend across different wallet groups.
According to Glassnode data, a net 259 thousand 298 BTC was purchased between 59 thousand and 67 thousand dollars since June 5, and the Accumulation Tendency Score reached the highest level with 1.0.
Sales trend between March and May reversed
The picture was different in the period between March and May. While Bitcoin was trending sideways around $70,000, most of the wallet groups were net sellers. Latest data revealed that this trend was reversed with the withdrawal in June.
The Total Accumulation Propensity Score has remained at its peak level for more than two weeks, marking the strongest accumulation behavior so far within the current pullback period. This showed that price weakness was considered as a buying opportunity by some investors.
| Indicator | previous period | last period |
|---|---|---|
| market behavior | Net sales between March and May | Net purchase after June 5 |
| Price range | Around 70 thousand dollars | 59 thousand to 67 thousand dollars |
| Net BTC movement | Distribution weighted | 259 thousand 298 BTC savings |
On-chain indicators point to strengthening demand
The data in the news revealed that investor appetite has increased significantly in the last 10-day period. Particularly the fact that small and medium-sized wallets moved in the same direction with large investors showed that the purchasing tendency in the market has reached a more balanced structure.
Glassnode stands out as a data company known for its on-chain analysis of crypto assets. For this reason, these metrics are closely monitored to monitor investor behavior behind price movements in the spot market.
The fact that the Total Accumulation Tendency Score remained at the top for more than two weeks was recorded as the strongest accumulation behavior seen during the current decline.
