According to the latest data from blockchain analytics firm Glassnode, entities with balances of less than 100 Bitcoins and entities with more than 10,000 Bitcoins are starting to accumulate BTC.
New data shows that entities with balances of less than 100 Bitcoins have seen a gradient in their total wallet holdings during the recent market slump, with this group seeing an increase of 80,724 Bitcoins in their total balances, when in fact, balances of less than 100 Bitcoin entities are buying Bitcoin at lower prices, and their demand has offset the supply of Bitcoin liquidated by LFG to maintain the UST peg.
Another cohort contributing to the high accumulation trend score was whales holding more than 10,000 BTC, and throughout May, the balances of these entities increased by 46,269 BTC.