Analysis: Bitcoin’s seven-week bull run shows signs of potential correction

Bitcoin’s seven-week rally may soon end, BeInCrypto reported. The accumulation score for wallets holding over 10,000 BTC dropped from 0.8 to below 0.5 in May, indicating a shift to selling, according to Glassnode data. Additionally, CryptoQuant data shows 99% of Unspent Transaction Outputs (UTXOs) are in profit, a sign historically preceding corrections. While short-term profit-taking risks exist, analysts remain optimistic about Bitcoin’s long-term growth due to rising institutional demand and global corporate accumulation.