Bitcoin
Bitcoin Accumulation Addresses Surge as Market Optimism Returns
Highlights in the chain
DEFINITION: The number of unique accumulation addresses. Accumulation addresses are defined as addresses that receive at least two non-dust transfers and have never spent funds. Exchange addresses and addresses received from coinbase transactions (miner addresses) are discarded. To account for lost coins, addresses that had been active for more than seven years were also omitted.
Recent data from Glassnode indicates notable movements in Bitcoin accumulation addresses. The number of these addresses declined earlier this year and a resurgence began in late April. This increase is in line with broader market optimism and the stabilization of Bitcoin’s price around $60,000. According to CryptoSlate, long-term holders have added nearly 70,000 BTC since the end of the cycle, reversing a previous trend of divestment.
Furthermore, the Bitcoin halving spurred substantial accumulation. More than 115,000 BTC were accumulated in April alone, reflecting strong market confidence. This behavior is further evidenced by an increase in investor activity, with significant inflows into Bitcoin accumulation addresses reaching record levels in April.
These patterns suggest a bullish outlook among long-term holders and other key market participants, highlighting a collective confidence in Bitcoin’s future prospects. The interaction between these accumulation trends and market events like the halving will be crucial in shaping Bitcoin’s trajectory in the coming months.
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