New data from the market intelligence firm Glassnode suggests that Bitcoin (BTC) is in the midst of a strong accumulation phase.
Glassnode says that investor activity on both the top US crypto exchange Coinbase and the world’s top exchange Binance indicates a growing demand for Bitcoin.
“Off-chain spot flows also turned positive, with Coinbase seeing intense net buying pressure, and Binance sell-pressure cooling off. This indicates ‘buy-the-dip’ behavior remains dominant across the two major exchanges.”
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Glassnode also says that the cumulative volume delta (CVD), an indicator that aims to spot divergences by comparing buying and selling volume over a given time period, has been strengthening on Coinbase and Binance.
“Since mid-April, Coinbase has experienced a regime of consistent net buying, with CVD peaking at
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