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Bitcoin Accumulation Addresses Rise as Market Optimism Returns

The resurgence of Bitcoin accumulation addresses marks a bullish outlook.

Chain Highlights

DEFINITION: The number of unique accumulation addresses. Accumulation addresses are defined as addresses that have at least two incoming transfers without dust and have never spent funds. Exchange addresses and addresses received from coinbase transactions (miner addresses) are discarded. To account for lost coins, addresses that were active more than seven years ago were also omitted.

Recent data from Glassnode indicates notable movements in Bitcoin accumulation directions. The number of these addresses decreased at the beginning of this year and a resurgence began in late April. This rise aligns with broader market optimism and Bitcoin price stabilization around $60,000. According to CryptoSlate, long-term holders have added nearly 70,000 BTC since the end of the cycle, reversing a previous divestment trend.

Additionally, the Bitcoin halving fueled 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.
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