Bitcoin Accumulation Pace Slows Down Amid Weakening Spot Demand

Bitcoin's (BTC) accumulation pace has slowed down in February, indicating that even spot demand is weakening at the current price range, according to data from Bitget.

The leading cryptocurrency's recovery attempts have been followed by selling pressure, and it remains under defensive price range. The market also experienced its sharpest capitulation event since 2022, with almost no hopes of a rapid recovery.

According to Glassnode data, the BTC accumulation score has barely budged above 0.5 points since early February, showing that the pace of accumulation is slowing down.

The current holding ratio shows no dominance of either whales or retail, and most whale transfers in BTC are linked to institutions or market makers.