Bitcoin

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<p class="is-style-lead">Bitcoin is back at $27,000 after recording a rally of close to 2% within a 24-hour run. Trading at $27.400, BTC recorded a 1.7% gain within 24 hours as of press time, with trading volume rising by 12%.</p>



<p><a href="https://crypto.news/price/bitcoin/">Bitcoin’s</a> volatility levels are rather low now as the Bollinger bands converge to show lower volatility. The relative strength indicator also moves above its average line, signaling a possible bullish trend. The MACD indicator is also moving in the positive region.</p>



<figure class="wp-block-image size-full"><img decoding="async" loading="lazy" width="824" height="523" src="https://crypto.news/app/uploads/2023/05/image-46.png" alt="Bitcoin reclaims $27k as accumulation turns to distribution - 6" class="wp-image-14157784"><figcaption class="wp-element-caption">BTC 24-hour chart source | <a href="https://www.tradingview.com/chart/zhJr3zVm/?symbol=BITSTAMP%3ABTCUSD" target="_blank" rel="noreferrer noopener">TradingView</a></figcaption></figure>



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<h2 class="wp-block-heading" id="whales-shift-bitcoin-strategy">Whales shift bitcoin strategy</h2>



<p>In a recent assessment of bitcoin&#8217;s accumulation trend score by Cohort, significant changes have been observed, indicating a shift in the behavior of different participant groups within the cryptocurrency market. </p>



<p>Notably, the largest holders of bitcoin, known as whales (with holdings exceeding 10,000 BTC), have transitioned from a phase of heavy accumulation to a more balanced state characterized by an equal inflow and outflow of tokens.</p>



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"><p lang="en" dir="ltr">When assessing the <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#Bitcoin</a> Accumulation Trend Score by Cohort, we note that the largest of Whales (&gt;10K BTC) have transitioned from a regime of heavy accumulation to one of equally balanced inflows and outflows.<br><br>With all other major cohorts aggressively distributing coins, the… <a href="https://t.co/mzoORrDyhs" target="_blank">pic.twitter.com/mzoORrDyhs</a></p>&mdash; glassnode (@glassnode) <a href="https://twitter.com/glassnode/status/1658867686279872515?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">May 17, 2023</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
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<p>While whales exhibit a more nuanced approach to their <a href="https://crypto.news/free-bitcoins/">bitcoin</a> holdings, the situation is quite different for other major holders in the market. </p>



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<p>The analysis reveals that these cohorts actively distribute their coins, suggesting a broader trend of selling rather than accumulation. This transition among the whales carries implications for the overall market sentiment and potential price dynamics. </p>



<p>The shift from heavy accumulation to balanced flows indicates a more cautious approach by the largest bitcoin holders. It may suggest that these whales have reached a level of satisfaction with their existing holdings.</p>



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Bitcoin reclaims $27k as accumulation turns to distribution

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