Bitcoin accumulation trends weaken as realized losses jump to $600M
Bitcoin whales and investors shift to distribution as realized losses surge past $600 million, as BTC price declines toward $76,000.
Bitcoin (BTC) has dropped nearly 7% from its local peak of $82,800, as several groups of wallet holders switched from accumulation to distribution. Data suggests that this distribution, combined with increasing realized losses, points to a potential shift in momentum.
Key takeaways:
The yearly absorption rate measures the amount of new BTC issued that has been absorbed by the market over the past year. Currently, the absorption rate by exchanges is improving while whales are losing coins at a historic pace.