📰 Glassnode’s latest signal is a bit less than comforting: bitcoin across multiple wallet cohort groups has, for the first time since early June, collectively shifted to net selling.
In the prior nearly three months, almost all cohorts were continuously accumulating. Now the accumulation trend score has fallen to 0.37— the lower the score, the more actively they’re selling. The main force behind this round of selling is the “whales” holding more than 1,000 BTC.
🔥 On the price front, the key resistance level at $83,000 was not breached, and then price dropped back below $80,000. Honestly, even wallet groups of different sizes have started selling—short-term pressure in the market is clearly more pronounced than a simple technical pullback.
However, things have not fully tilted toward the bears. Bitcoin is simultaneously facing pressure from the 50-week moving average around $79,687. Meanwhile, the 50-day moving average could potentially cross above the 200-day moving average as early as Tuesday, forming a golden cross. If this signal materializes, it may give bulls a bit of reason to try breaking through again.
🤔 The question now is: will whale selling continue to spread, or will the golden-cross expectation help the market reclaim its bid? Do you think BTC can get back above $83,000?
#BTC #比特币 #Glassnode #On-chain data
In the prior nearly three months, almost all cohorts were continuously accumulating. Now the accumulation trend score has fallen to 0.37— the lower the score, the more actively they’re selling. The main force behind this round of selling is the “whales” holding more than 1,000 BTC.
🔥 On the price front, the key resistance level at $83,000 was not breached, and then price dropped back below $80,000. Honestly, even wallet groups of different sizes have started selling—short-term pressure in the market is clearly more pronounced than a simple technical pullback.
However, things have not fully tilted toward the bears. Bitcoin is simultaneously facing pressure from the 50-week moving average around $79,687. Meanwhile, the 50-day moving average could potentially cross above the 200-day moving average as early as Tuesday, forming a golden cross. If this signal materializes, it may give bulls a bit of reason to try breaking through again.
🤔 The question now is: will whale selling continue to spread, or will the golden-cross expectation help the market reclaim its bid? Do you think BTC can get back above $83,000?
#BTC #比特币 #Glassnode #On-chain data
