On-chain analytics firm Glassnode has highlighted how accumulation from the 
large Bitcoin entities has remained relatively weak recently. Bitcoin 
Accumulation Trend Score Has Been Struggling To Break 0.5 In a new post on X, 
Glassnode has talked about the latest trend in the Accumulation Trend Score 
for Bitcoin. This on-chain indicator tracks whether BTCinvestors are 
accumulating or distributing right now. The metric calculates its value by 
looking at the balance changes happening in the wallets of the investors. 
Additionally, it also accounts for the size of the wallets themselves. This 
second weighting factor means that larger entities have a stronger influence 
on the indicator. Related Reading: Bitcoin Nears Death Cross That Preceded 
Final Bear Market Legs When the value of the Accumulation Trend Score is 
greater than 0.5, it means large investors (or a large number of small 
entities) are accumulating. The closer the metric is to 1, the stronger this 
behavior is. On the other hand, the indicator being under 0.5 implies that 
distribution is the dominant behavior on the network. The extreme point on 
this side of the scale lies at 0. Now, here is the chart shared by Glassnode 
that shows how the Bitcoin Accumulation Trend Score has changed over the 
course of the cycle: As displayed in the above graph, the Bitcoin price crash 
in November saw the Accumulation Trend Score take on a dark purple color. 
Here, a light yellow shade on the indicator reflects a value close to zero, 
while a dark purple one to a value near 1. Thus, it would appear that the 
market reacted with a near-perfect accumulation behavior to the November price 
lows. While December saw continued accumulation, a shift occurred in January; 
the price recovery rally was met with distribution as the Accumulation Trend 
Score turned orange-yellow. The cryptocurrency&#8217;s price has plummeted since the 
onset of this selling pressure. The price crash has been met with some 
accumulation, but from the chart, it&#8217;s visible that the indicator&#8217;s color has 
still only been red. &#8220;The Accumulation Trend Score has struggled to push above 
0.5 since early February,&#8221; noted the analytics firm. While the current value 
suggests aggressive distribution is no longer happening, it&#8217;s not necessarily 
a sign of a return of demand for Bitcoin, either. As Glassnode explained, the 
trend reflects &#8220;persistently weak accumulation, particularly among larger 
entities, signalling that meaningful capital has yet to step back in.&#8221; It now 
remains to be seen how long the current neutral market behavior will continue 
and which way the next shift will lean. Related Reading: Bitcoin Capitulation 
Persists As Short-Term Holders Realize $0.48B Daily Losses BTC Price Bitcoin 
slipped under the $63,000 level on Tuesday, but the market has rebounded since 
then as the cryptocurrency&#8217;s price has returned to $65,300. Featured image 
from Dall-E, chart from TradingView.com

Bitcoin Yet To See Meaningful Capital Return, Glassnode Says

World Liberty Financial’s USD1 is the fifth-largest stablecoin by market 
capitalization at $4.7 billion, while USDT is the market leader, followed by 
USDC.

WLFI proposes governance staking system and USD1 usage incentives

“They’ve heard the promises of institutional adoption for so long that they no 
longer register,&#8221; said Bitwise&#8217;s Matt Hougan.

Wall Street is loud about crypto, but investors aren’t listening: Bitwise

South African Finance Minister Enoch Godongwana has announced plans to end the 
country’s crypto regulatory vacuum by drafting new rules to integrate digital 
assets into the national capital flow management regime. Closing the 
Regulatory Vacuum South African Finance Minister Enoch Godongwana has 
signalled a definitive end to the regulatory vacuum surrounding digital 
assets, revealing the […]

South Africa Moves to Bring Cryptocurrencies Under Capital Flow Controls

Dogecoin started a major increase above $0.10 against the US Dollar. DOGE is 
now consolidating and might decline again if it fails to clear $0.1060. DOGE 
price started a fresh increase above $0.0950 and $0.10. The price is trading 
above the $0.10 level and the 100-hourly simple moving average. There was a 
break above a bearish trend line with resistance at $0.0942 on the hourly 
chart of the DOGE/USD pair (data source from Kraken). The price could aim for 
a fresh increase if it remains stable above $0.0988. Dogecoin Price 
Consolidates Gains Dogecoin price started a fresh increase after it settled 
above $0.0950, like Bitcoin and Ethereum. DOGE climbed above the $0.0980 
resistance to enter a positive zone. There was also a break above a bearish 
trend line with resistance at $0.0942 on the hourly chart of the DOGE/USD 
pair. The bulls were able to push the price above $0.10. A high was formed at 
$0.1061 and the price is now correcting some gains. There was a move below the 
23.6% Fib retracement level of the upward move from the $0.0910 swing low to 
the $0.1061 high. Dogecoin price is now trading above the $0.10 level and the 
100-hourly simple moving average. If there is another increase, immediate 
resistance on the upside is near the $0.1028 level. The first major resistance 
for the bulls could be near the $0.1050 level. The next major resistance is 
near the $0.1080 level. A close above the $0.1080 resistance might send the 
price toward $0.1120. Any more gains might send the price toward $0.120. The 
next major stop for the bulls might be $0.1220. Another Decline In DOGE? If 
DOGE’s price fails to climb above the $0.1050 level, it could start a downside 
correction. Initial support on the downside is near the $0.10 level. The next 
major support is near the $0.0.988 level or the 50% Fib retracement level of 
the upward move from the $0.0910 swing low to the $0.1061 high. The main 
support sits at $0.0950. If there is a downside break below the $0.0950 
support, the price could decline further. In the stated case, the price might 
slide toward the $0.0920 level or even $0.090 in the near term. Technical 
Indicators Hourly MACD – The MACD for DOGE/USD is now losing momentum in the 
bullish zone. Hourly RSI (Relative Strength Index) – The RSI for DOGE/USD is 
now above the 50 level. Major Support Levels – $0.0988 and $0.0.950. Major 
Resistance Levels – $0.1050 and $0.1120.

Cryptocurrency price in MYR