Bitcoin: Glassnode Data Reveals a Widespread Return to Accumulation
In February 2026, bitcoin experienced a spectacular drop, plunging below 61,000 dollars before bouncing back. Glassnode data reveals today an unexpected phenomenon: massive accumulation by investors of all profiles. Why does this trend mark a turning point for the market?
In brief
- Glassnode’s accumulation score reaches 0.68, a record level since November, signaling massive accumulation.
- Bitcoin’s brutal capitulation, with a drop to 61,000 $, was followed by a rapid rebound, revealing market maturity.
- The outlook suggests bullish potential, with key resistances at $70,000 and forecasts at $150,000 by the end of 2026.
Bitcoin accumulation reaches a record level according to Glassnode
For the first time since late November, bitcoin’s accumulation trend score surpassed the 0.5 threshold to reach 0.68! A massive level of investor accumulation that coincides with BTC stabilizing around 80,000 dollars. This trend is particularly marked among wallets holding between 10 and 100 BTC, which took advantage of the price drop towards 60,000 dollars to strengthen their positions. This is the case for Binance and its 3,600 BTC purchased on February 6.
This phenomenon is explained by a change in investor behavior who increasingly perceive bitcoin as a safe haven. And although uncertainty about a prolonged decline persists in the market, this widespread accumulation suggests renewed confidence in the crypto queen. Glassnode data thus reveals an unprecedented dynamic, where all market participants see this drop as a long-term buying opportunity.
BTC capitulation marks a historic turning point!
February 5, 2026 will be etched in bitcoin’s history. Indeed, in just a few hours, the crypto queen fell more than 15%, dropping below the symbolic threshold of 61,000 dollars! An unprecedented level since October 2024. This dizzying drop was triggered by a wave of record liquidations, with a daily volume exceeding 143 billion dollars.
The causes of this capitulation are multiple. Notably, regulatory uncertainties in the United States, geopolitical tensions, and a generalized derisking movement on risky assets. However, this crisis differs from previous ones. Unlike 2018 or 2022, where capitulations stretched over several weeks, that of 2026 was brutal but brief. Experts see it as a sign of market maturity, capable of rebounding more quickly.
What are the prospects for bitcoin after the accumulation phase ?
In the short term, analysts anticipate a rebound towards 70,000 dollars, a major psychological resistance. If this level is surpassed, bitcoin could enter a new bullish phase. In the medium term, the outlook is even more promising. Indeed, Bernstein forecasts a major turnaround by the end of 2026, with bitcoin potentially exceeding 150,000 dollars.
The bitcoin capitulation of February 2026 marked a turning point, but Glassnode data proves that the market reacted with unprecedented resilience. It remains to be seen if BTC will manage to overcome key resistances and confirm its status as a safe haven asset. In your opinion, is this accumulation a sign of a maturing market, or a calm before a new storm?
Maximize your Cointribune experience with our "Read to Earn" program! For every article you read, earn points and access exclusive rewards. Sign up now and start earning benefits.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Tonight, a "dovish rate hike"?
The Federal Reserve is almost certain to raise interest rates tonight, but the key issue is "what will be said after the hike." Citi characterizes this move as a "fine-tuning" adjustment, suggesting there is no inevitable future rate hike, yet warns that if Chairman Powell does not provide clear forward guidance, it will trigger significant market volatility. Goldman Sachs bluntly stated that there is insufficient economic foundation for this rate hike, with inflation being merely a one-off factor, and expects this to be a "signal-less rate hike."
JPMorgan: "Open source disruption" and "AI safety" are not issues, there is still room for capital expenditure in the next two years, semiconductor equipment will become the "new bottleneck"
JPMorgan believes that open-source models are not a threat, regulatory disruptions are only short-term, and cloud vendors’ leverage remains low—the fundamentals of computing power investment have not changed. It forecasts that the capital expenditure of the seven major tech giants will soar from $443 billion in 2025 to $1.577 trillion in 2027, with semiconductor equipment becoming the core bottleneck of the supply chain and a new round of price increases expected in wafer foundry and advanced packaging.
Micron executive: Storage determines AI limits, substantial new capacity will come after 2028
Micron executive Sumit Sadana stated that memory bandwidth and capacity have become the core factors determining the performance ceiling of AI systems. In the face of structural imbalances between supply and demand, Micron expects to increase capital expenditure to over $45 billion in fiscal year 2027, but due to process complexity, substantive new capacity will not be released until 2028. Additionally, long-term supply agreements are reshaping the industry's business model, and humanoid robots will trigger the next wave of massive demand.
Goldman Sachs warns top clients: AI momentum trading shows unprecedented cracks, recommends hedging
Goldman Sachs has issued a rare warning to top clients: deep structural cracks are emerging in AI momentum. The AI-themed basket has dropped nearly 45% from its peak, with the one-day performance gap between short-term and long-term momentum reaching a five-year high. Capital is accelerating its shift from semiconductors to software. Goldman Sachs explicitly recommends that investors with AI exposure start hedging.
Crypto prices
More
