Bitcoin investors broke a daily record by entering an accumulation period.
According to data from blockchain analysis company CryptoQuant, more than 27,700 Bitcoin were sent to accumulation addresses between April 16-17. The previous record was broken with 25,500 Bitcoin on March 23.
Addresses with no other withdrawal records in the transaction history and a balance of at least 10 BTC are considered accumulation addresses. Wallets known to belong to Bitcoin miners or exchanges are not included in this category.
Crypto analyst Rekt Capital wrote that Bitcoin investors have entered a “re-accumulation” period before the halving and that this could continue for up to 150 days.
The analyst also stated that Bitcoin’s goal during this period is to move horizontally after the halving, and if this period ends, he expects Bitcoin to enter a parabolic rally trend.
