For the first time since the start of the year, Bitcoin (BTC $108,783.53) has embarked on an intense accumulation spree that spans wallets of all sizes, underpinning a fresh wave of bullish momentum as the flagship crypto comfortably trades beyond the $110,000 mark — a hefty 18% surge within the last 30 days.
Inside the Numbers: Decoding Glassnode’s Accumulation Trend
Reaching the peak score of 1.0, Glassnode’s Accumulation Trend Score reveals widespread, vigorous hoarding activity across the investor spectrum no matter their BTC stash. This metric measures buying power intensity among different wallet segments, weighing both their prior holdings and fresh acquisitions from the previous 15-day window — importantly filtering out exchanges and miners to preserve data purity.
Who’s Leading the Charge?
The current buying frenzy kicked off in early May, spearheaded by whale wallets harboring 10,000 or more BTC. Once prices took flight, smaller holders jumped on the bandwagon, amplifying the accumulation tempo considerably.
Turning the Tide: From January’s Sell-Off to May’s Buy-In
This widespread demand starkly contrasts the first four months of the year when most wallet classes trimmed positions amid Bitcoin’s descent from a then-peak of $109,000 down to approximately $75,000.
Options Market Signals and Bullish Positions
Adding fuel to the fire, the options arena showcases robust upward bets. CoinDesk Research spotlights that the $300,000 strike call set to expire in June has become the crowd favorite, amassing a striking $620 million in notional value. Meanwhile, another $420 million is parked near the $200,000 strike prices, underscoring trader confidence in Bitcoin’s continued upward trajectory.
Contextual Insight: Historical Behavior of Bitcoin vs. Traditional Assets
While Bitcoin has a tendency to pull back after reaching an all-time peak—owing largely to profit-taking dynamics—classic assets such as the S&P 500 or gold often sustain or stretch their upward trends in similar post-high phases. Should Bitcoin mirror these time-tested, mature asset patterns, it might be signaling the dawn of a prolonged bull run, a scenario closely monitored by market watchers today.
Summary of Recent Price Movements and Market Dynamics
- Current Price: Over $110,000
- Monthly Gain: Roughly 18%
- Accumulation Score: Glassnode’s all-time high of 1.0
- Leading Buyers: Whales holding 10,000+ BTC
- Key Options Strikes: $300,000 (June expiry), $200,000
