Bitcoin investors have been accumulating the asset at a remarkable rate, coinciding with a near $5.8 billion in realized losses, which may indicate a shift to a bullish market stance.

Market Overview

Over the past month, Bitcoin’s price has declined by 10%, leading various groups of wallet holders to transition from selling to buying the cryptocurrency. Analytical data reflects that this increased accumulation, alongside unprecedented realized losses, could signal a change in market momentum.

Key Highlights

• Significant accumulation by Bitcoin whales and medium-sized holders at current price levels.
• These large holders are now taking in almost 240% of the newly minted Bitcoin supply.
• Realized losses for Bitcoin reached nearly $5.8 billion by November 22, marking the largest downturn since the FTX incident, a classic indicator of capitulation.

Current Accumulation Trend

As Bitcoin whales show increased appetite for investment following a recent drop to $80,000, they are seizing this moment to accumulate more. Data from Glassnode indicates that the Bitcoin accumulation trend score (ATS) is approaching a critical value of 1, which signifies heavy accumulation by larger investors.

Conclusion

This trend is significant as it highlights a transition in holding behavior among Bitcoin investors, particularly since numerous smaller and mid-sized holders have also begun to accumulate over the past few weeks.