---
title: "Bitcoin accumulation reaches 3-month high"
url: https://diffcoin.com/bitcoin-accumulation-reaches-3-month-high/
description: "Investors are accumulating Bitcoin while the market roams in the bearish zone"
published: 2024-07-11
updated: 2024-07-11
author: "Mila"
site: "Diffcoin"
---

# Bitcoin accumulation reaches 3-month high

The Bitcoin (BTC) accumulation phase seems to have started as the BTC price wanders below the $60,000 mark for a week.

According to data provided by Glassnode, the BTC accumulation trend surged from 0.05 on June 1 to 0.44 as of July 10. This level hasn’t been seen since April 11, when the flagship cryptocurrency traded for $70,000.

![Glassnode: Bitcoin accumulation reaches 3-month high - 1](https://crypto.news/app/uploads/2024/07/glassnode-studio_bitcoin-accumulation-trend-score-1024x576.png)

BTC price and accumulation trend score – July 11 | Source: Glassnode

The indicator started to rise while the German government was offloading its BTC holdings over the past week, causing a market-wide bearish momentum and FUD (fear, uncertainty and doubt). Consequently, the Bitcoin price plunged below the $54,000 mark.

On July 10, CryptoQuant reported that the Bitcoin whales started accumulating the asset while the market wandered in uncertainty, increasing their balances at a 6.3% monthly rate.

Per data from Glassnode, the number of whales holding at least 1,000 BTC — roughly $58.2 million at the reporting time — rose from 1,640 on July 1 to 1,643 on July 10.

This movement shows that big whales expect a market rebound despite the bearish selloffs by the German government.

Today, Bitcoin and most of the large altcoins saw a downward momentum ahead of the U.S. inflation data release, scheduled for today at 08:30 ET (12:30 UTC). The global crypto market capitalization slipped by 1% and is currently sitting at $2.24 trillion.

BTC is down by 1.35% in the past 24 hours and is trading at $58,200 at the time of writing. The asset’s market cap is hovering at $1.14 trillion with a daily trading volume of roughly $25 billion.

[Source link](https://crypto.news/glassnode-bitcoin-accumulation-reaches-3-month-high/)