Investor Accumulation Intensifies Amid Bitcoin’s Move Above $120K

Bitcoin Accumulation Strengthens as U.S. Investors Drive Market Optimism

Bitcoin (BTC) has jumped 10% this week, climbing above $121,000 on Thursday—the highest level since its Aug. 14 record, according to CoinDesk. Multiple wallet cohorts are transitioning from distribution to accumulation for the first time since August, signaling renewed bullish sentiment.

The Accumulation Trend Score, which tracks buying versus selling over a 15-day period, has risen to 0.62, per Glassnode. With a neutral level of 0.5, this reading indicates that market participants are leaning toward accumulation. Scores near 1 reflect strong buying, while readings closer to 0 suggest continued distribution.

Wallet Cohort Analysis

• Wallets holding 100–1,000 BTC have shifted sharply into accumulation after distributing coins last week.
• Holders of 10–100 BTC are also beginning to accumulate again.
• Retail wallets with less than 10 BTC have slowed selling and are showing early signs of buying.
• Large whales with 10,000+ BTC remain in distribution, continuing a trend that has persisted since August.

U.S. trading activity has further fueled bullish momentum. Between Monday and Thursday, Bitcoin gained roughly 8% during U.S. trading hours alone, according to Velo data, reflecting strong domestic investor demand.

The combination of renewed accumulation across mid- and small-sized wallets and robust U.S. trading performance points to sustained bullish sentiment, suggesting that Bitcoin may continue its upward trajectory.