On-chain analytics firm Glassnode has noted that accumulation during Bitcoin’s recent price drop appears weaker compared to past market crashes.
Bitcoin Accumulation Trend Score Shows Limited Buying Pressure
In a recent post on X, Glassnode discussed the latest readings from Bitcoin’s Accumulation Trend Score. This indicator measures whether investors are currently accumulating (buying) or distributing (selling) Bitcoin.
The score considers two factors: changes in wallet balances and the size of those balances. Larger holders carry more weight in the calculation.
A score above 0.5 signals accumulation by large holders or a significant number of smaller investors. The closer the score is to 1.0, the stronger the accumulation. Conversely, a score below 0.5 indicates distribution is dominant, with selling pressure strongest at a value of zero.
The chart shared by Glassnode shows the 7-day moving average of the Bitcoin Accumulation Trend Score over recent years.
As illustrated, the score turned yellow as Bitcoin’s January recovery rally peaked and prices declined, suggesting investors were distributing. With Bitcoin stabilizing above $65,000, the indicator’s color has darkened, indicating a move back above the 0.5 threshold.
While this points to some accumulation at post-crash price levels, its intensity has been relatively modest. This contrasts sharply with the market’s response to the November crash, when the score turned a deep purple, reflecting aggressive accumulation by major investors. Similar extreme accumulation was observed following the LUNA and FTX crashes during the 2022 bear market.
It remains to be seen whether the current lack of strong demand will prolong Bitcoin’s period of consolidation before finding a stable bottom.
Bitcoin Trades Below Most On-Chain Pricing Models
In related news, Glassnode provided an update on major Bitcoin on-chain price models. The chart shows that Bitcoin’s decline has pushed its price below all major on-chain pricing benchmarks except for the Realized Price.
The Realized Price, which reflects the average cost basis of all network participants, currently sits at $54,900.
BTC Price Action
Bitcoin has been trading in a narrow range since recovering from its $60,000 low, with prices currently hovering around $68,000.
Frequently Asked Questions
FAQs Understanding the Current Slowdown in Bitcoin Accumulation
Here is a list of frequently asked questions about the reported slowdown in Bitcoin accumulation based on the Glassnode data comparing current activity to the surge in November 2025
Beginner Definition Questions
1 What does Bitcoin accumulation mean
Accumulation refers to the ongoing process of investors buying and holding Bitcoin in their wallets over a long period rather than actively trading it Its a sign of longterm confidence
2 What is Glassnode and why is its data important
Glassnode is a leading blockchain data and intelligence platform It analyzes onchain data to provide insights into investor behavior making its reports highly trusted in the crypto space
3 What happened with Bitcoin accumulation in November 2025
According to Glassnode November 2025 saw a significant surge in accumulation meaning a large number of investors were actively buying and withdrawing Bitcoin to their personal wallets in a strong wave of longterm buying
4 What does accumulation is significantly weaker now mean in simple terms
It means the current rate at which investors are buying Bitcoin to hold longterm has slowed down considerably compared to the intense buying wave seen in November 2025 Fewer new coins are being taken off exchanges and locked away
Causes Market Context Questions
5 Why might accumulation be slowing down now
Common reasons include a potential price consolidation or pullback after a surge general market uncertainty investors waiting for a better entry price or a shift in focus to other assets It often indicates a coolingoff period
6 Is weak accumulation a bearish sign for Bitcoins price
Not necessarily It can be a neutral or even healthy sign After a strong surge a period of slower accumulation allows the market to consolidate It becomes a concern only if its paired with other negative signals like sustained heavy selling
7 Does this mean big investors have stopped buying
Not exactly The data suggests the pace of net buying has decreased Large holders may still be accumulating but more slowly or they might be in a distribution phase or simply inactive and holding their current coins
Strategy Practical Implications