Bitcoin accumulation addresses see steady rise

Bitcoin accumulation addresses see steady rise

Onchain Highlights
DEFINITION: The number of unique accumulation addresses. Accumulation addresses are defined as addresses that have at least 2 incoming non-dust transfers and have never spent funds. Exchange addresses and addresses receiving from coinbase transactions (miner addresses) are discarded. To account for lost coins, addresses that were last active more than 7 years ago are omitted as well.
Bitcoin’s accumulation addresses have experienced a notable decline in 2024. Historically, these addresses steadily increased, reflecting long-term holder confidence as Bitcoin’s price appreciated over the past decade.
By 2022, accumulation addresses almost surpassed 800,000, growing further in 2023 to a peak of around 846,000 at the start of 2024.
BTC: Number of Accumulation Addresses: (Source: Glassnode)
However, following the halving in April, accumulation addresses saw a sharp drop, dipping below 815,000 by March. This decline coincided with Bitcoin’s price pullback from its M

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