Glassnode data highlights broad selling pressure in bitcoin as prices slip below $67,000, with retail investors leading the move while larger holders remain largely on the sidelines.
The 30-day Accumulation Trend Score, which tracks on-chain behavior by wallet size, shows that smaller wallets are driving the current distribution. Scores near 1 indicate accumulation, especially by larger holders, whereas readings near 0 reflect selling or minimal buying.
Retail wallets are seeing the heaviest outflows: those holding under 1 BTC register a score of 0.11, and wallets with 1–10 BTC fall to 0.05, signaling aggressive selling. In contrast, whales with 1,000–10,000 BTC remain neutral around 0.5, suggesting a cautious, wait-and-see stance.
The largest holders, with over 10,000 BTC, show mild distribution, far below the levels seen when bitcoin traded above $90,000 last year. Mid-sized holders holding 100–1,000 BTC are also participating in distribution, though less aggressively.
Since early February, when bitcoin briefly touched $60,000, accumulation has been limited. The trend indicates that retail investors are capitulating into weakness, while larger players are holding back, waiting for clearer market signals.
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