As of August 20, the Bitcoin market is undergoing a significant shift towards a strong net accumulation, with 70,000 BTC being collected into different pools over the past 30 days, marking the largest accumulation period since mid-June, when Bitcoin price was hovering around $70,000.
Currently, the majority of Bitcoin investors, from small investors (like “Shrimp” and “Crab”) to larger institutions, are net accumulating, except for the “super whales” holding over 100,000 BTC.
Bitcoin Super Whales vs. Issuance: (Source: Glassnode)
Notably, Bitcoin miners, a key group in the ecosystem, are also engaging in net accumulation – a trend not seen in nearly 12 months. This shows that confidence in Bitcoin’s long-term value is growing strongly.
In addition, accumulation from retail investors (shrimp and crab) has reached levels not seen in nearly a year, demonstrating strong participation and strong confidence from individual investors.
Miners vs. Issuers: (Source: Glassnode)
With the monthly Bitcoin supply at around 14,000 BTC, the current accumulation rate is 70,000 BTC – 5 times higher than the supply. This not only shows strong demand but also suggests a positive trend for the market, which could significantly influence the price trajectory of Bitcoin in the coming months.
Bitcoin: All pools vs issuance: (Source: Glassnode)
The sharp increase in Bitcoin accumulation, especially from miners and retail investors, shows a growing confidence in the future of this digital currency. With the accumulation rate far exceeding the monthly supply, the market is reflecting an optimistic trend and could be a sign of a potential growth in the coming time. This confidence from both large and small investors is a solid foundation, helping to consolidate Bitcoin's position in the global financial market.
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