Glassnode data shows that bitcoin wallets of all sizes—from under 1 BTC to over 10,000 BTC—have returned to net selling, following last week’s rally. Whale cohorts, including the 10–100 BTC and 1,000–10,000 BTC groups, which were previously buying, have now flipped to distribution.
The Accumulation Trend Score, which tracks wallet behavior over the past 15 days while excluding exchanges, miners, and similar entities, indicates widespread selling, with scores near 0 across all cohorts. Scores closer to 1 would signal accumulation.
Regionally, Asia continues to drive bitcoin gains, lifting prices from $115,000 over the weekend to around $117,000. In contrast, European markets have remained weaker, with BTC down more than 10% over the past three months and recent sessions dominated by pullbacks.
The market remains in consolidation, likely to continue through September, with the $107,000 level from the month’s start still acting as key support.
