One Bitcoin Trend Is Beginning To Look Strikingly Familiar

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Bitcoin just flipped bullish this week, breaking above $76,000. But the more interesting story sits beneath the price. 

Glassnode posted on August 21 that high-conviction buyers have been steadily accumulating Bitcoin since January. 

A similar pattern showed up in 2022. But this time, the share of total supply these buyers hold is larger than it was back then.

A Closer View of the Numbers

Conviction buyers was pegged at roughly 4 million BTC accumulated in 2026 alone, close to $305 billion at current prices, or nearly 19% of total supply. 

Bitcoin fell from $48,000 to near $16,500 in 2022, a 66% drop, and conviction buyers grew their share from a smaller base back then. 

This cycle’s decline has been milder, roughly 35% to 45% from the late-2025 peak, yet today’s buyers hold a larger share of supply. 

That points to either stronger conviction or simply less pain endured before buying. The counterargument matters too. 

Glassnode has noted this accumulation is narrowing toward the 1,000 to 10,000 BTC cohort, with broader participation still missing. 

A concentrated buying group isn’t the same as market-wide conviction, and earlier 2026 rallies stalled near $75,000 and $93,000 once that narrower base ran out of steam.

A Trend That Has Been Building For Months

Techgaged tracked this pattern well before Glassnode’s latest post. Whale wallets added roughly 270,000 BTC in a single month back in March, worth about $23 billion at the time, even as fear dominated sentiment. 

A separate report the following month noted that more than 60% of Bitcoin’s supply hadn’t moved in over a year, a sign of a holder base growing less sensitive to short-term price swings.

Reading The Chart Alongside The On-Chain Data

BTC/USD trades at $76,374.10 on the weekly chart as of 07:30 UTC on August 21, 2026, in an upside move. 

The RSI Divergence Indicator flagged repeated bearish signals through most of this year, but the most recent marker near the June low flipped bullish. 

That shift coincided with the same window Glassnode identifies as the start of this accumulation episode, though correlation alone doesn’t confirm one drove the other.

Watch the Accumulation Trend Score for large wallet cohorts over the coming weeks. 

A sustained push above 0.5 across a broader range of wallet sizes, not just the 1,000 to 10,000 BTC cohort, would mark the clearest confirmation yet that this conviction-buying phase is widening.

Disclaimer:
This article is for informational purposes only and does not constitute financial, investment, or trading advice. The views expressed are based on publicly available data, market observations, and the author’s interpretation at the time of writing. Cryptocurrency markets are highly volatile and unpredictable, and past performance or current technical setups do not guarantee future results. Readers should conduct their own research and consult with a qualified financial advisor before making any investment decisions. TechGaged does not accept liability for any losses incurred based on the information presented.

The post One Bitcoin Trend Is Beginning To Look Strikingly Familiar appeared first on TechGaged.com.