Bitcoin Cohorts Accumulate vs. Sell in Market Consolidation
Glassnode data shows divergent behavior among Bitcoin investor cohorts during the current consolidation phase. First Buyers increased holdings by 1%, adding 50,000 BTC in five days, while Conviction Buyers boosted positions by 10% to 1.03 million BTC, though participation lags April levels. The Bitcoin investor cohorts’ mixed actions reflect fresh demand countered by strategic selling: Loss Sellers sold 37.8% more coins at a loss, rising to 87,000 BTC, and Profit Takers locked in gains, up 5.4% to 1.83 million BTC—their largest YTD increase. CryptoQuant notes short-term holders are realizing losses for the first time since January, signaling either a healthy reset or weakening momentum. Traders should watch this consolidation for signs of breakout or deeper correction.
Neutral
Mixed signals from Bitcoin investor cohorts—accumulation by First Buyers and Conviction Buyers offset by profit-taking and loss-selling—indicate balanced supply and demand during consolidation. While fresh demand emerges, minimal panic selling suggests market stability. This consolidation resembles past mid-cycle quiet periods before directional moves but currently offers no clear bullish or bearish bias. Traders should await breakout confirmation before taking directional positions.