Accumulation Momentum Builds as Bitcoin Climbs Above $120K

Bitcoin Accumulation Strengthens as U.S. Investors Drive Renewed Bullishness

Bitcoin (BTC) has risen 10% this week, climbing past $121,000 on Thursday—the highest level since its Aug. 14 record, according to CoinDesk. Mid- and small-sized wallet holders are shifting from distribution to accumulation for the first time since August, reflecting growing confidence in the market.

The Accumulation Trend Score, tracking buying versus selling over a 15-day period, has jumped to 0.62, per Glassnode. With a neutral threshold of 0.5, this indicates that market participants are increasingly accumulating rather than selling. A score near 1 signals strong accumulation, while readings closer to 0 point to continued distribution.

Wallet Cohort Insights

Wallets holding 100–1,000 BTC have moved sharply into accumulation after distributing coins last week.
Holders of 10–100 BTC are starting to accumulate again.
Retail wallets with less than 10 BTC have slowed selling and show early buying activity.
Large whales holding 10,000+ BTC remain in distribution, continuing a trend seen since August.

U.S. trading activity has further supported bullish momentum. From Monday through Thursday, Bitcoin gained roughly 8% during U.S. sessions alone, according to Velo data, highlighting strong domestic investor demand.

The convergence of renewed accumulation among mid- and small-sized holders, combined with robust U.S. trading gains, points to sustained bullish sentiment as Bitcoin eyes higher levels.