The Bitcoin Accumulation Index measures whether holder cohorts are accumulating or distributing by analyzing changes in the network's on-chain balance distribution over time. It splits the supply into wallet-size cohorts, from the smallest holders (Shrimp) up to the largest (Humpback), and scores each cohort individually based on whether its aggregate balance is growing or shrinking. Those per-cohort scores are then combined into a single composite signal, weighted by market valuation context, and expressed on a 0 to 100 percent scale.
The composite reads out as colored phase dots plotted directly on the Bitcoin price line, so accumulation and distribution regimes sit in context with price rather than on a separate axis. You can switch between cohort views to isolate a single holder group, letting you see, for example, whether large wallets are absorbing supply while smaller wallets sell, or the reverse. Because each cohort is scored on its own before being blended, divergences between groups are visible rather than averaged away.
Use the index to gauge whether the balance of on-chain behavior favors accumulation or distribution across Bitcoin holders. Sustained accumulation phases across cohorts describe a market where supply is moving into longer-term hands, while broad distribution phases indicate the opposite. Reading the composite alongside the individual cohort views helps confirm whether a signal is broad-based or driven by a single group.
Check the selected asset, units, and cohort before comparing readings. Compare the metric over consistent dates and use related measures to understand what contributes to a change.
