Bitcoin (BTC), which has the lowest relative strength (RSI) readings ever recorded on the two-week and daily scales, is accumulating steadily among several investors cohorts. According to one analyst, this accumulation strengthens what he called the “best thesis” Buy BTC
Onchain data shows wallets holding 1,000–10,000 BTC added more than 53,000 BTC over the past 60 days, while smaller retail investors also increased their holdings.
BTC accumulates across key demographics
MN Capital founder Michael van de Poppe highlighted Bitcoin’s historically poor momentum readings can be seen as an opportunity for long-term growth.
“The lowest Bitcoin read on the 2-Week RSI, and Daily RSI EVER. That’s the best thesis for accumulating and buying your Bitcoin,” van de Poppe added that panic-driven sales could continue, while also presenting rare opportunities for buying.
Glassnode’s Accumulation Trend Score supports this view. Glassnode’s Accumulation Score shows The strongest purchasing activity is seen amongst smaller investors and selected mid-sized holders. BTC wallets that hold less than 0.01 BTC received the highest possible score (0.78), amongst the cohorts tracked. The 10–100 BTC group followed with a score of 0.71, signaling consistent accumulation over recent weeks.
Source: CryptoQuant.com Bitcoin accumulation trend. Source: CryptoQuant
Buyers of larger amounts have been present as well. Over the past 60 days, wallets holding 1,000–10,000 BTC added 53,042 BTC, the largest increase among all cohorts. Addresses holding 100–1,000 BTC accumulated another 12,233 BTC, while the 10–100 BTC group added 1,283 BTC.
By contrast, the situation was different amongst larger entities. BTC wallets that held more than 10 000 BTC decreased balances by 39 840 BTC over the same period. Other smaller groups with between 1-10 BTC reduced their exposure. Positioning splits indicate that retail investors and whales are both accumulating in weakness.
Bitcoin accumulation vs distribution (60-day change). Source: CryptoQuant
Related: Bitcoin price eyes $90K as FTX-era BTC bullish divergence flashes again
Potential bottom zones for below $60,000.
Titan of Crypto, a market analyst highlighted A fair value gap between $44,600 and $56,800. The FVG creates a significant price difference when Bitcoin prices move in one particular direction quickly, leaving behind a region with very little trading.
Titan of Crypto’s BTC price analysis and FVG by quarter. Source:
Bitcoin’s quarterly chart shows it revisited imbalance zones that were created in 2011, 2017, 2020, and 2013 before reaching a bottom. The latest gap, formed in 2024, remains unfilled, making the $56,800–$44,600 range an important bracket if the current correction extends further.
Glassnode’s co-founder Rafael pointed Bitcoin’s CVDD (cumulative value days destroyed to price ratio), is a valuation measure that takes into account the long-term market prices in comparison to historical costs based on coin-holding behaviour. It is nearing 0.73 at the moment and it has traditionally approached 1 near cycle bottoms.
With the CVDD floor near $46,000, Rafael said a similar pattern would place a potential bottom in the $52,000–$59,000 range.
Bitcoin CVDD Ratio Source: Rafael/X
Related: Spot Bitcoin ETFs bleed $1.7B as outflow streak hits four weeks
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Source: cointelegraph.com
