According to data analysis firm Glassnode, investors have started aggressively accumulating Bitcoin! Here are the details.

Bitcoin has risen above $110,000 again, gaining 18% in value over the past month. Amid this rise, according to on-chain data analytics firm Glassnode, Bitcoin has entered its strongest accumulation period since January.

Bitcoin Surpasses 110,000 Dollars: Entered the Strongest Accumulation Period Since January

Glassnode's Accumulation Trend Score (Accumulation Trend Score) has currently reached a maximum level of 1.0. This indicates that all wallet groups are aggressively accumulating BTC from large investors to small investors. This metric takes into account purchases made in the last 15 days and current balances; exchanges and miners are excluded from the analysis.

This wave of accumulation, which began in early May, was led by whales holding more than 10,000 BTC. With the upward movement of Bitcoin's price, smaller wallets have also joined this trend, increasing their holdings.

This new trend represents a significant change compared to the January-April period. During that time, most investors had reduced their BTC holdings due to the price decline. As a reminder, Bitcoin had decreased from $109,000 to around $75,000 during this process.

In addition to the accumulation trend, strong rise positions in the options markets also support this increase in demand. The $300,000 call option for the June expiry has become the most popular choice, with a total open position size at this level of $620 million. Additionally, $420 million in additional positions in call options at the $200,000 level is also noteworthy.

When Bitcoin reached all-time highs in the past, it typically experienced price pullbacks due to profit-taking; however, experts are focusing on a different scenario this time.

Traditional assets like the S&P 500 and gold are showing a tendency to continue their rises after reaching new peaks. Bitcoin exhibiting similar behavior could signify the beginning of a long-term bull market.

While this development is being closely monitored in the markets, analysts indicate that new peaks may be possible in the coming weeks along with high volatility.