Bitcoin enters the distribution phase as the accumulation trend score drops to 0.21

Source Cryptopolitan

Large Bitcoin holders are selling their assets as the accumulation trend score dips. According to Glassnode’s report, the accumulation trend score stands at 0.21 amid declining Bitcoin prices.

Bitcoin is currently trading at $93,814, a 3.46% drop in the last 24 hours.

Bitcoin whales are selling more of their holdings

Glassnode reveals that Bitcoin entered its distribution phase at the beginning of the year, suggesting that most BTC holders are now selling their assets.

Bitcoin enters the distribution phase as the accumulation trend score drops to 0.21
Source: Glassnode

In an X post on January 8, Glassnode commented:

The Bitcoin market has shifted into a distribution phase at the turn of the year, with Accumulation Trend Score currently at 0.21. This suggests net selling across most holder cohorts.

Glassnode

The Glassnode report even shows that BTC selling has been more prevalent among large whales with more than 10,000 BTC. Large whales have been consistently selling since September; however, their selling pace has picked up in January.

Moreover, selling activity among BTC holders of 1000 to 10,000 BTC has intensified in the last few weeks, hinting at diminished confidence or profit-taking among major players. CryptoQuant’s data even supports the idea that multiple investors are profiting from selling Bitcoin. From its report, the Adjusted Spent Output Profit Ratio (aSOPR), a vital profitability metric, has moved up to 1.04.

BTC is in its cooling phase as on-chain activity dwindles

Once Bitcoin crossed the $108,000 mark, its price value slumped, causing many analysts to question whether it had just concluded its bullish momentum. Some have even suggested that BTC traders could see a longer correction phase in the coming months.

BTC rebounded on January 6, bringing its price to over $100,000. However, the token slid by over 3.05% today and is currently going for only $94,742.

Additionally, the adjusted SOPR (Spent Output Profit Ratio) has remained above 1 over the past week. Historically, a drop below 1 often precedes Bitcoin rebounds, as loss-driven selling typically triggers reversals in bull market conditions.

Meanwhile, the cumulative network fees within a 7-day SMA are on a decline, showing reduced on-chain activity. Avocado, a crypto analyst, has suggested that the current BTC market conditions indicate a cooling-off period more than the conclusion of a bull market.

From Zero to Web3 Pro: Your 90-Day Career Launch Plan

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Japanese Yen hangs near multi-month low against USD; seems vulnerableThe Japanese Yen (JPY) languishes near a six-month low against its American counterpart and seems vulnerable to prolonging a one-month-old downtrend amid uncertainty about the timing of the next rate hike by the Bank of Japan (BoJ).
Author  FXStreet
Yesterday 02: 24
The Japanese Yen (JPY) languishes near a six-month low against its American counterpart and seems vulnerable to prolonging a one-month-old downtrend amid uncertainty about the timing of the next rate hike by the Bank of Japan (BoJ).
placeholder
Why Did The S&P 500 And Nasdaq Composite Just Fall Over 1%?TradingKey - The year 2025 started off on a pretty solid footing for investors with the key indices in the US – the S&P 500 Index and the tech-focused Nasdaq Composite Index – both posting gains in the first few days of trading. That followed on from some huge double-digit gains for 2023 and 2024.
Author  TradingKey
Yesterday 05: 27
TradingKey - The year 2025 started off on a pretty solid footing for investors with the key indices in the US – the S&P 500 Index and the tech-focused Nasdaq Composite Index – both posting gains in the first few days of trading. That followed on from some huge double-digit gains for 2023 and 2024.
placeholder
Open interest in Bitcoin futures contracts on CME is now at a record 51,000The Kobeissi Letter reported that Open Interest in Bitcoin futures contracts on the CME hit a record of 51,000. According to the market analyst, CME's surge in open interest in Bitcoin futures coincided with the launch of spot Bitcoin ETFs last year. 
Author  Cryptopolitan
7 hours ago
The Kobeissi Letter reported that Open Interest in Bitcoin futures contracts on the CME hit a record of 51,000. According to the market analyst, CME's surge in open interest in Bitcoin futures coincided with the launch of spot Bitcoin ETFs last year. 
placeholder
XRP Price Eyes Bullish Flag Breakout That Could Put 50% Gains On The BoardDespite recent declines and volatility, a crypto analyst has declared that the XRP price is on the cusp of breaking out of a bullish flag pattern. According to the analyst, a successful breakout of
Author  NewsBTC
7 hours ago
Despite recent declines and volatility, a crypto analyst has declared that the XRP price is on the cusp of breaking out of a bullish flag pattern. According to the analyst, a successful breakout of
placeholder
XRP Price Rises Against the Tide! Ripple President Hints at Spot ETF ApprovalWhile the broader cryptocurrency market faced a pullback amid expectations of slower interest rate cuts by the Federal Reserve, XRP defied the trend, surging nearly 3% on Thursday, January 9.
Author  TradingKey
2 hours ago
While the broader cryptocurrency market faced a pullback amid expectations of slower interest rate cuts by the Federal Reserve, XRP defied the trend, surging nearly 3% on Thursday, January 9.
goTop
quote