x
Glassnode’s Accumulation Trend Score just hit 0.04. Basically zero, signaling a bearish Bitcoin price prediction.
That means holders across almost every wallet size have flipped to active selling. It is one of the most bearish readings this metric can print.
And yet, the Bitcoin price is still near $70,000.
So which one is lying? The price or the on-chain data. That is the question every holder needs to answer right now.
DISCOVER: How Institutions Are Still Buying Bitcoin During Geopolitical Dips
Accumulation Trend Score is like a store inventory tracker. Shelves emptying means people are buying. Shelves overflowing means everyone is returning stuff, and nobody is shopping.
Right now, the shelves are packed. Score sitting at 0.04.
(Source: Glassnode)
Every wallet tier is selling simultaneously. Retail, mid-size holders, even whales. That is a distribution phase.
Here is what that means in plain terms. Large holders sell at a stable price. Fresh buyers see $70,000 and think it is safe. The price holds just long enough to pull them in. Then it breaks.
Retail buys the bag.
What makes this unusual is that retail is actually leading the selling right now. Whales normally exit first. The fact that larger wallets are joining in on top of that makes it worse.
Price stability is not the same as safety right now.
DISCOVER: How to Read Whale Wallet Behavior as a Market Signal
$70,000 is the line. Everything depends on it holding.
Bull case is institutional demand absorbs the selling, and $70K becomes a confirmed floor. Bear case: selling wins, stop-losses cascade, and the next stop is $60,000 to $65,000.
(Source: BTCUSD / TradingView)
Macro is not helping. Dollar above 99.5. 10-year yield above 4.2%. Oil at $100. All of it drags on risk assets.
Here is the trap to avoid. Price stability during a distribution phase is not a green light. It is the mechanism that makes the trap work. Coins flood exchanges. Volume dries up. Price holds just long enough to pull in fresh buyers. Then it breaks.
Late-cycle distribution does not mean the bull run is over. It means you are no longer in the early innings where every dip is a gift.
Watch for the Accumulation Trend Score to move back above 0.4. That is the signal buyers are returning. Until then, the chart looks calmer than the data underneath it.
Follow 99Bitcoins on X For the Latest Market Updates and Subscribe on YouTube For Daily Expert Market Analysis. Read original story Bitcoin Selling Surges Across Wallets as $70K Holds by Alex Ioannou at 99bitcoins.com
