Bitcoin accumulation rises across cohorts, Glassnode shows

At the start of February, bitcoin traded near $80,000 as whales began buying while retail investors exited. A week later the price plunged to $60,000 on Feb. 5 after one of the sharpest capitulations in bitcoin's history, and the market now appears to be shifting toward more synchronized accumulation across nearly all cohorts as investors seek value.

Glassnode's Accumulation Trend Score by cohort, which measures accumulation strength across wallet sizes over the past 15 days, has climbed above 0.5 to 0.68. That is the first broad-based accumulation reading since late November, a period that coincided with bitcoin forming a local bottom near $80,000.

Wallets holding between 10 and 100 BTC have been the most aggressive dip buyers as prices fell toward $60,000. While it remains uncertain whether the ultimate bottom is in, investors appear to be increasingly buying after a drawdown of more than 50% from October's all-time high.