Bitcoin Conviction Buyers Ramp Up Accumulation Since January

Forecast Trend Report by Period

Investors with strong conviction in Bitcoin have sharply increased their accumulation since January, according to data cited in a Cointelegraph report on August 21.

Cointelegraph, citing Glassnode data, reported that "Conviction Buyers" have been aggressively accumulating Bitcoin since January.

The share of Bitcoin supply acquired by Conviction Buyers during the current accumulation phase has climbed above levels seen in the 2022 accumulation period. A Glassnode chart showed that the share has risen steeply this year, at one point reaching about 25% of total Bitcoin supply.

As of 3:37 p.m., Bitcoin was trading at $75,516, up 8.4% from a day earlier, according to CoinMarketCap.