The Accumulation Pattern Rating (ATS) is an indicator that displays the relative dimension of entities which can be actively accumulating cash on-chain by way of their BTC holdings. The dimensions of the ATS represents each the scale of the entities steadiness (their participation rating), and the quantity of recent cash they’ve acquired/offered during the last month (their steadiness change rating).

An ATS of nearer to 1 signifies that on combination, bigger entities (or an enormous a part of the community) are accumulating, and a worth nearer to 0 signifies they’re distributing or not accumulating. This offers perception into the steadiness dimension of market individuals, and their accumulation habits during the last month.

Fast Take

  • At present, the Bitcoin (BTC) community is seeing heavy distribution from all cohorts; this habits was final seen after the Luna collapse in mid-2022, circled under.
  • This comes after aggressive shopping for in the course of the FTX collapse in November 2022, as all cohorts noticed nice worth within the BTC value.
  • The identical habits occurred after earlier bear market bottoms in 2015, 2019, 2020, and 2022. Although distribution begins to happen as traders take earnings, reluctance to proceed accumulating can seem if traders specific worry of a bull lure.
    Accumulation trend score: (Source: Glassnode)
    Accumulation development rating: (Supply: Glassnode)

    Accumulation trend score by cohort: (Source: Glassnode)
    Accumulation development rating by cohort: (Supply: Glassnode)

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