BlockBeats news, on September 26, Coindesk reported that according to Glassnode data, the Bitcoin ecosystem has shown a significant accumulation trend recently. The net accumulation of BTC in September reached 88,000, which is about 7 times the monthly issuance, the highest since 2023. the highest level since the fourth quarter of this year. The data shows:

Retail investors continue to enter the market: As of September 25, 2024, “crabs” (1-10 BTC) and “shrimp” (less than 1 BTC) investors who hold less than 10 BTC have in the past A total of 35,000 BTC were accumulated within 30 days. Glassnode data shows that this trend has continued from May 2024, reflecting a significant increase in small investor confidence.

BTC outflow from exchanges intensified: During the same period, about 40,000 BTC were withdrawn from exchanges, accounting for 0.21% of the total circulation. Currently, about 74% of the circulating supply of BTC is classified as illiquid assets. This supply contraction may lay the foundation for future price increases.

Market analysis points out that the dual effects of retail accumulation and BTC outflow from exchanges may indicate that Bitcoin market momentum will continue to increase in the fourth quarter of 2024.

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