Bitcoin Accumulation Trend Score Stays Below 0.5 Amid Price Recovery, What Does This Mean?

Bitcoin's price briefly recovered but fell back to around $85,200. On-chain data shows that large investors are not accumulating Bitcoin despite the price fluctuations. A key metric called the Accumulation Trend Score has been below 0.5 for 58 days, suggesting weak accumulation. This score tracks how much Bitcoin different investors are buying. The average length of these low-accumulation periods is 65 days over the past year. Bitcoin has spent 196 days in periods of low accumulation (below 0.5) compared to 170 days in higher accumulation periods (above 0.5) in the last year. Short-term Bitcoin holders (those who haven't held for long) are close to breaking even on their investments, meaning they could sell if the price drops further. A metric tracking short-term holder profitability is close to zero, showing they haven't made significant gains. Another metric reflecting short-term holder sentiment has recently rebounded, which might suggest some renewed buying after a period of selling.