Bitcoin enthusiasts are in for a treat as Glassnode data reveals that all wallet cohorts are now accumulating the cryptocurrency, hinting at a potential uptrend with options markets even daring to price in a surge beyond $200K by June. The latest update on May 23, 2025, at 2:10 p.m., sheds light on this exciting development in the world of digital assets.
The accumulation trend has taken a positive turn, with Bitcoin showing a robust phase of gathering momentum across all wallet sizes for the first time since January. This surge in bullish sentiment comes as Bitcoin impressively trades above $110,000, marking an impressive 18% increase in value over the past month. Glassnode’s Accumulation Trend Score hitting a maximum value of 1.0 further emphasizes the widespread aggressive accumulation happening right now, regardless of the investors’ current BTC holdings. The metric carefully evaluates the strength of buying based on different wallet sizes, taking into account both the existing holdings and the recent acquisitions made in the last 15 days, excluding exchanges and miners to ensure an accurate reflection.
The journey towards this renewed demand began in early May, spearheaded by whales holding over 10,000 BTC. As the price started its upward climb, smaller cohorts with lesser holdings quickly followed suit, intensifying their accumulation efforts. This stark shift from the previous period of January to April, where most cohorts were decreasing their holdings amidst Bitcoin’s drop from a record high of $109,000 to lows of around $75,000, indicates a promising trend in the market. The options market activity further supports this positive sentiment, with a notable increase in large bullish positions. The $300,000 strike for June expiry has emerged as the most sought-after call option, with a whopping $620 million in notional value, while an additional $420 million is concentrated around the $200,000 strike. This optimistic outlook, combined with the historical behavior of traditional assets like the S&P 500 and gold extending their rallies post-all-time highs, raises hopes for a sustained bull cycle in Bitcoin, a narrative closely monitored by many market participants.
James Van Straten, a Senior Analyst at CoinDesk, brings his expertise in Bitcoin and its interaction with the macroeconomic landscape to the table. With a background in Research Analysis at a Swiss hedge fund, James delves into on-chain analytics to understand Bitcoin’s role in the broader financial system. Aside from his professional commitments, he also serves as an advisor to Coinsilium, a UK public company, offering insights on their Bitcoin treasury strategy, while holding investments in Bitcoin and Strategy (MSTR). As the market continues to evolve, James’ insights provide valuable perspectives on navigating the dynamic world of digital assets.
So there you have it, folks! The Bitcoin market is abuzz with excitement as all wallet cohorts gear up for a potential surge, with options markets hinting at a bullish trajectory beyond $200K by June. Stay tuned as the cryptocurrency landscape continues to unfold, offering new opportunities and challenges for investors and enthusiasts alike.
