• The number of entities having at least 1k coins shot up considerably.
• The accumulation banked on expectations of higher inflows into Bitcoin spot ETFs.

Bitcoin [BTC] was consolidating around old all-time highs (ATH) as of this writing, as market participants eagerly waited for a decisive move to the next big target of $75,000.

No drop in accumulation

The good news was that buying activity remained strong. According to AMBCrypto’s analysis of Santiment’s data, Bitcoin’s accumulation trend score was 0.78 at press time, implying that most of the larger entities were adding to their positions.