Markets
What to know:
- The aggregate Accumulation Trend Score, that most inscrutable of barometers, now hovers at 0.62-a number so tantalizingly above 0.5 it might as well be a divine whisper from the market’s soul. Since August, demand has clawed back dominance over supply like a drunkard seizing a bottle.
- Mid-sized wallets (10-1,000 BTC), those middle-class heroes of crypto, have thrown themselves into accumulation with the fervor of a man drowning clutching a life preserver. Retail traders, ever the late bloomers, tiptoe in like toddlers learning to ride a tricycle. Meanwhile, whales-those leviathans of greed-continue selling with the subtlety of a man shouting “I’m broke!” at a casino.
- Bitcoin, that capricious flirt, gained 8% during U.S. hours this week, as if to mock the very idea of stability. Americans, it seems, are rediscovering bullishness like a forgotten love letter in a coat pocket.
Bitcoin has risen 10% this week, as if the market itself had suddenly remembered how to breathe. Wallets, those digital reliquaries of wealth, have abandoned distribution for accumulation like penitents seeking redemption. On Thursday, Bitcoin pierced $121,000-a height last seen in August, when the world was younger and hope less expensive.
The Accumulation Trend Score, that most enigmatic of metrics, now stands at 0.62, a number that hums with the promise of chaos. Glassnode, that oracle of data, declares it a harbinger of buying frenzies and existential dread. Closer to 1? A bullish utopia. Closer to 0? A dystopian auction. Currently, it dances in the gray, like a man teetering on a cliff with a ledger in hand.
By cohort, wallets holding 100-1,000 BTC have swung from distribution to accumulation with the urgency of a man fleeing a burning house. Those with 10-100 BTC follow, tentatively dipping toes into the abyss. Retailers, those brave souls with less than 10 BTC, have finally stopped selling-perhaps out of exhaustion or sheer disbelief. Whales, however, remain the market’s tragic poets, distributing coins like saints scattering ashes.
Amid this ballet of wallets, U.S. markets have conjured a bullish pattern worthy of a Shakespearean subplot. From Monday to Thursday, Bitcoin gained 8% during American hours, as if to say, “We’ve got this, Europe!” Velo data, that most stoic of narrators, confirms the madness.
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2025-10-03 14:31