According to the on-chain platform, these substantial profits amassed by these cohorts are a rare event that may reflect internal transfers or true exits. The pattern indicates increased activity on the blockchain.
Glassnode noted that the accumulation points to early dip-buying during the most recent adjustment. However, the signal is trailing, showing behavior that has been smoothed over a period of 15 days.
At the time of writing, BTC was trading at $114,911, demonstrating a nearly 1% increase in the last 24 hours. Meanwhile, investors’ sentiment is slowly turning bearish as evidenced by its trading volume, which has dropped by over 5% in the past day.
