Glassnode: Bitcoin's long-term holders have returned to the accumulation phase

Gold Finance report, July 2, according to CoinDesk, Glassnode data shows that Bitcoin long-term holders have shifted from net distribution to net accumulation, with the 30-day net position change turning positive. The current net accumulation scale is approximately between 50k and 100k BTC. Glassnode points out that the ongoing shift of long-term holders from net distribution to net accumulation typically occurs during periods of market weakness, as long-term investors gradually increase their holdings while short-term participants reduce risk.

Looking at the accumulation trend score, the score for smallest holders (less than 1 BTC) is close to 0.8 to 0.9, medium-sized holders (100 to 1,000 BTC) are similarly close to this range, the group holding 1 to 10 BTC and 10 to 100 BTC scores around 0.6 to 0.7, the group holding 1,000 to 10,000 BTC scores about 0.5 to 0.6, and the largest whales (over 10,000 BTC) remain near neutral. Glassnode states that simultaneous accumulation across wallets of various sizes is a positive signal, but the largest holders have not yet started buying, and further observation is needed to confirm the full accumulation trend.