Retail investors owning less than 1 BTC are accumulating Bitcoin while whales holding over 10,000 BTC are selling, according to data analyzed by CryptoSlate.
Since August, Bitcoin has been in a distribution phase, as shown by the lighter colors on the graph below. The darker colors denote accumulation periods, as seen throughout May, June, and July. The first chart below showcases the Accumulation Trend Score for Bitcoin across all coin holders.
During the May downturn initiated by the collapse of Terra Luna, investors continued to accumulate Bitcoin and bought the dip. However, this trend ended in August as sentiment moved bearish, causing Bitcoin to trade flat throughout Q3. While there were more sellers than buyers in this period, it does not appear to have been enough to force Bitcoin …
