Bitcoin (BTC) has surged 10% this week as multiple wallet holder groups transition from distribution to accumulation for the first time since August. The leading cryptocurrency climbed above $121,000 on Thursday, reaching its highest level since the August 14 record peak, according to CoinDesk data.
The Accumulation Trend Score, which tracks the relative strength of accumulation versus distribution over 15-day periods, has jumped to 0.62 based on Glassnode metrics.
This reading significantly exceeds the neutral 0.5 threshold, indicating that market participants are collectively shifting toward buying rather than selling. Scores approaching 1 signal stronger accumulation activity, while values near 0 suggest distribution dominance.
Analyzing specific wallet cohorts reveals that holders of 100-1,000 BTC have dramatically reversed from distribution to accumulation compared to last week. The 10-100 BTC holder group is also returning to accumulation patterns. Retail investors with under 10 BTC have substantially reduced selling pressure and are beginning to demonstrate buying interest.
Conversely, major whales holding over 10,000 BTC continue heavy distribution, maintaining the trend established since August.
Complementing these wallet behavior changes, a significant bullish trading pattern has developed in U.S. markets. From Monday through Thursday, Bitcoin consistently gained during U.S. trading sessions, advancing approximately 8% during these periods alone based on Velo data.