Bitcoin was back on the line for $60,000 earlier this week, after touching the low stage, and there was a warming of the chain holding structures. Glassnode's latest data show that long-term holders have returned to net-sale status before the end of their status.

Permanent holders converted to net increase

Glassnode defines a wallet with at least 155 days in currency as a long-term holder and calculates the change in hold hold of such address over the past 30 days. The latest indicators have returned to the positive zone, which means that this group of investors as a whole is back on track.

According to its graphs, the current net increase is about 50,000 to 100,000 BTCs. This represents a significant change from the previous period of continuous distribution, but still below the level of previous strong increases.

Most of the wallets show up at a low price.

Grassnode ' s cumulative trend scores show that, over the past month, wallets of different sizes have generally increased their purchasing power, with a wider market showing signs of low absorption.

  • Less than 1 BTC small wallet is most active
  • 100 to 1,000 BTC addresses are also strong
  • 1,000 to 10,000 BTC addresses converted to net purchase

Of these, small wallets and medium-sized addresses were rated close to 0.8 to 0.9, indicating a greater willingness to buy. The number of addresses holding between 1 and 100 BTCs is also increasing, but is relatively mild in intensity.

The biggest whale is still neutral.

According to Glassnode, a synchronous shift in the size of most wallets towards accumulation usually provides the basis for subsequent market repairs, indicating that the proximity of $60,000 has begun to attract multi-level financial flows.

At the same time, however, the Agency noted that it was not yet possible to conclude that the market was at a full accumulation stage. This is due to the fact that the largest whale address has not yet been significantly added to the increase, and whether there will be a continued trend will depend on the continuation of the purchase.