Bitcoin Accumulation Trends Strengthen As Realized Losses Near $5.8b

Bitcoin whales are accumulating at a record pace amid almost $5.8 billion in capitulation losses, signaling a potential bullish reversal.

Bitcoin (BTC) has dropped 10% over the last 30 days, as several groups of wallet holders switched from distribution to accumulation.

Data suggests that this accumulation, coupled with record realized losses, points to a potential shift in momentum.

Bitcoin whales and mid-sized holders are aggressively accumulating BTC at current levels.

Whales and sharks are now absorbing nearly 240% of the newly mined BTC supply.

Bitcoin’s realized losses neared $5.8 billion on Nov. 22, the largest since FTX, a classic capitulation sign.

Bitcoin whales increased their risk-on appetite following the recent drop to $80,000, using the dip as an opportunity.

Glassnode data indicates that the Bitcoin accumulation trend score (ATS) is nearing 1 (see chart below), indicating intense accumulation by large investors.

Related: Bitcoin's ‘momentum is igniting,’ but these are BTC price levels to watch

An ATS of closer to 1 (dark blue) indicates that the whales are accumulating more Bitcoin than they are distributing, and a value closer to 0 (light yellow) indicates they are distributing or not accumulating.

Source: CoinTelegraph