Bitcoin whales may be selling, but 'accumulation addresses' are in a firm bull trend in 2022.
) accumulation is nearing a new milestone this Christmas as redistribution of the BTC supply continues.shows that the total BTC balance of so-called “accumulation addresses” is nearing all-time highs.Behind the scenes in the 2022 Bitcoin bear market, certain entities are in no doubt over their BTC investment strategy.
“Accumulation addresses are defined as addresses that have at least 2 incoming non-dust transfers and have never spent funds,” the firm’s description explains. That number is increasingly closing in on the all-time high of 3,403,280 BTC seen in August 2015. Since Christmas 2021, the accumulation address balance has increased by around 18%.Bitcoin accumulation addresses chart. Source: GlassnodeMeanwhile, separate analysis from on-chain analytics platform CryptoQuant argued that despite larger hodlers reducing their BTC exposure, the overall long-term trend remained bullish.
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