{"id":335436,"date":"2023-08-14T17:00:18","date_gmt":"2023-08-14T11:30:18","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=335436"},"modified":"2023-08-14T13:16:53","modified_gmt":"2023-08-14T07:46:53","slug":"how-bitcoins-shifting-dynamics-can-affect-btc","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/how-bitcoins-shifting-dynamics-can-affect-btc\/","title":{"rendered":"How Bitcoin\u2019s shifting dynamics can affect BTC"},"content":{"rendered":"<ul>\n<li><em>Large holders of BTC are no longer in accumulation mode.<\/em><\/li>\n<li><em>Although the net taker volume was in a deep negative zone, traders&#8217; sentiment remained bullish<\/em>.<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Bitcoin&#8217;s [BTC]<\/span><span style=\"font-weight: 400;\"> on-chain activity has undergone a noticeable shift recently, marking a departure from the previous accumulation trend. For BTC\u2019s price action, the balance between accumulation and distribution is critical to understanding market sentiment. And one metric that explains this is the accumulation trend score.<\/span><\/p>\n<hr \/>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">Read <\/span><a href=\"http:\/\/ambcrypto.com\/predictions\/bitcoin-price-prediction\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Bitcoin\u2019s [BTC] Price Prediction<\/span><\/a><span style=\"font-weight: 400;\"> 2023-2024<\/span><\/p>\n<hr \/>\n<p><span style=\"font-weight: 400;\">Analysis of the metric suggests a transition towards a more widespread distribution of Bitcoin. As an indicator of market behavior, the <\/span><a href=\"https:\/\/studio.glassnode.com\/metrics?a=BTC&amp;category=&amp;m=indicators.AccumulationTrendScore\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">accumulation trend score<\/span><\/a><span style=\"font-weight: 400;\"> reflects the number of new coins accumulated or sold within a specific period.<\/span><\/p>\n<h4><b>Power has changed hands<\/b><span style=\"font-weight: 400;\">\u00a0<\/span><\/h4>\n<p><span style=\"font-weight: 400;\">When the accumulation trend score is closer to one, it means that large entities are accumulating. But when the metric inches closer to zero, it depicts a shift toward selling. At press time, the Bitcoin accumulation trend score was 0.05, indicating that large holders\u2019 sentiment was toward the latter.<\/span><\/p>\n<figure id=\"attachment_335442\" aria-describedby=\"caption-attachment-335442\" style=\"width: 1800px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/glassnode-studio_bitcoin-accumulation-trend-score.png\"><img decoding=\"async\" class=\"size-full wp-image-335442\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/glassnode-studio_bitcoin-accumulation-trend-score.png\" alt=\"Bitcoin accumulation trend score\" width=\"1800\" height=\"1013\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/glassnode-studio_bitcoin-accumulation-trend-score.png 1800w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/glassnode-studio_bitcoin-accumulation-trend-score-300x169.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/glassnode-studio_bitcoin-accumulation-trend-score-1024x576.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/glassnode-studio_bitcoin-accumulation-trend-score-768x432.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/glassnode-studio_bitcoin-accumulation-trend-score-1536x864.png 1536w\" sizes=\"(max-width: 1800px) 100vw, 1800px\" \/><\/a><figcaption id=\"caption-attachment-335442\" class=\"wp-caption-text\">Source: Glassnode<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">Earlier on, AMBCrypto <\/span><a href=\"http:\/\/ambcrypto.com\/heres-whats-keeping-bitcoin-below-the-30000-mark\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">reported<\/span><\/a><span style=\"font-weight: 400;\"> that whales were accumulating Bitcoin in large numbers. And this action was instrumental to the coin\u2019s rise above $30,000 at one point. Therefore, the change in sentiment could have impacted on the recent consolidation BTC has had to deal with.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If this metric continues to stay the same, then BTC\u2019s consolidation or drawdown may continue to linger. Furthermore, CryptoQuant\u2019s analyst JA_Maartunn noted on 12 August that the BTC\u2019s inability to climb could be linked to the net taker volume.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The <\/span><a href=\"https:\/\/cryptoquant.com\/analytics\/dashboard\/641abc1d5d1c2e47c09398f6?my-friend=p3nnmky7\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">net taker volume<\/span><\/a><span style=\"font-weight: 400;\"> measures the difference between the <\/span><a href=\"http:\/\/ambcrypto.com\/should-bitcoin-investors-consider-stockpiling\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">buying<\/span><\/a><span style=\"font-weight: 400;\"> and selling volume of Bitcoin\u2019s futures contracts. By taking the metric into historical uses, the analyst referred to 2021 saying that,<\/span><\/p>\n<blockquote><p><span style=\"font-weight: 400;\">\u201cIn May 2021, Bitcoin was trading at around $60,000, while <\/span><i><span style=\"font-weight: 400;\">Taker Sell Volume <\/span><\/i><span style=\"font-weight: 400;\">was $600 million higher than <\/span><i><span style=\"font-weight: 400;\">Taker Buy Volume.<\/span><\/i><span style=\"font-weight: 400;\"> This indicates heavy selling through market orders, even though the price was still high.\u201d<\/span><\/p><\/blockquote>\n<p><span style=\"font-weight: 400;\">So, when the net taker volume is at deep positive values, and the price is relatively low, it means that aggressive buying is taking place. But Bitcoin\u2019s case was different. According to the chart shared by Maartunn, the net taker volume was negative, indicating heavy selling pressure.\u00a0<\/span><\/p>\n<figure id=\"attachment_335441\" aria-describedby=\"caption-attachment-335441\" style=\"width: 879px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-14-at-07.29.09.png\"><img decoding=\"async\" class=\"size-full wp-image-335441\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-14-at-07.29.09.png\" alt=\"Bitcoin net taker volume\" width=\"879\" height=\"450\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-14-at-07.29.09.png 879w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-14-at-07.29.09-300x154.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-14-at-07.29.09-768x393.png 768w\" sizes=\"(max-width: 879px) 100vw, 879px\" \/><\/a><figcaption id=\"caption-attachment-335441\" class=\"wp-caption-text\">Source: CryptoQuant<\/figcaption><\/figure>\n<h4><b>Enthusiasm reigns regardless<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">Despite the heavy selling pressure, Santiment <\/span><a href=\"https:\/\/app.santiment.net\/charts\/jK7tLHm9__sCl\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">revealed<\/span><\/a><span style=\"font-weight: 400;\"> that the funding on Binance was 0.01%. A positive funding rate means that long-position traders are <\/span><a href=\"http:\/\/ambcrypto.com\/bitcoin-futures-market-shows-affinity-for-stablecoin-collateral\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">dominant<\/span><\/a><span style=\"font-weight: 400;\"> and willing to pay funding to short traders.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Conversely, a negative funding rate implies that short traders are paying a funding fee to longs to keep their positions open. Therefore, the metric\u2019s press time state implies that bullish sentiment thrived.<\/span><\/p>\n<hr \/>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">Is your portfolio green? Check the <\/span><a href=\"http:\/\/ambcrypto.com\/calculator\/bitcoin-profit-calculator\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Bitcoin Profit Calculator<\/span><\/a><\/p>\n<hr \/>\n<figure id=\"attachment_335440\" aria-describedby=\"caption-attachment-335440\" style=\"width: 3840px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/Bitcoin-BTC-07.38.38-14-Aug-2023.png\"><img decoding=\"async\" class=\"size-full wp-image-335440\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/Bitcoin-BTC-07.38.38-14-Aug-2023.png\" alt=\"Bitcoin funding rate and BTC price\" width=\"3840\" height=\"1300\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/Bitcoin-BTC-07.38.38-14-Aug-2023.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/Bitcoin-BTC-07.38.38-14-Aug-2023-300x102.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/Bitcoin-BTC-07.38.38-14-Aug-2023-1024x347.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/Bitcoin-BTC-07.38.38-14-Aug-2023-768x260.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/Bitcoin-BTC-07.38.38-14-Aug-2023-1536x520.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/Bitcoin-BTC-07.38.38-14-Aug-2023-2048x693.png 2048w\" sizes=\"(max-width: 3840px) 100vw, 3840px\" \/><\/a><figcaption id=\"caption-attachment-335440\" class=\"wp-caption-text\">Source: Santiment<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">However, traders may need to watch out for the ongoing accumulation and distribution. If Bitcoin\u2019s distribution continues to outpace the former, then it\u2019s only a matter of time before some longs become liquidated. That\u2019s if the BTC price shrinks sharply.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin\u2019s distribution has outpaced accumulation. And if the circumstance persists, some long-position traders may be liquidated.<\/p>\n","protected":false},"author":72,"featured_media":335437,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[35,360,66,3,4,20],"tags":[],"class_list":["post-335436","post","type-post","status-publish","format-standard","has-post-thumbnail","category-bitcoin-news","category-btc-trading-view","category-new-news","category-news","category-social","category-trading-view"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>How Bitcoin\u2019s shifting dynamics can affect BTC - AMBCrypto<\/title>\n<meta name=\"description\" content=\"Bitcoin&#039;s [BTC] on-chain activity has undergone a noticeable shift recently, marking a departure from the previous accumulation trend\" \/>\n<meta name=\"robots\" content=\"index, follow, max-image-preview:large\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ambcrypto.com\/how-bitcoins-shifting-dynamics-can-affect-btc\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How Bitcoin\u2019s shifting dynamics can affect BTC - AMBCrypto\" \/>\n<meta property=\"og:description\" content=\"Bitcoin\u2019s distribution has outpaced accumulation. 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