Bitcoin Price Rebound Fueled by Small Investor Accumulation

Bitcoin's recent price surge has been driven by an unexpected source: small investors. According to on-chain data from Glassnode, wallets holding less than one bitcoin have started accumulating again for the first time since December 2025. This shift in behavior is a decisive change from months of persistent selling pressure from this cohort.

The accumulation trend comes alongside signs of easing stress in the mining sector. Block production fell by 14% week over week, and miner revenues slumped to around $202 million. However, there has been no capitulation, with the hashrate remaining steady near the symbolic threshold of one zettahash per second.

The broader macro backdrop remains hostile, with the US labor market report for May 2026 blowing past expectations. The strong reading crushed hopes for imminent rate cuts and sent risk assets sliding, including Bitcoin, which lost 13.25% on the week.