A recent report by Glassnode, an on-chain analytics firm, indicates a resurgence in Bitcoin accumulation behavior among investors. The report highlights the Accumulation Trend Score, a metric that assesses whether investors have been accumulating Bitcoin over the past month. This score considers balance changes in investor wallets and the size of these wallets, giving more weight to larger investors. A score close to 1 suggests accumulation by large entities or a significant number of small holders, while a score near 0 indicates distribution or lack of accumulation. The latest data shows a shift from deep red (indicating distribution) to blue, with larger groups, particularly those holding 10,000+ BTC, showing aggressive accumulation. This trend, similar to levels seen during the previous all-time high rally, could potentially lead to a bullish effect on Bitcoin's price. Currently, Bitcoin is trading at around $61,300, reflecting a 7% increase over the past week. Read more AI-generated news on: https://app.chaingpt.org/news

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