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# 'Great Bitcoin Accumulation' is Underway Claim Industry Experts
- URL: https://www.metatalks.ai/great-bitcoin-accumulation-is-underway-claim-industry-experts/
- Published: 2023-06-23T11:06:24.000Z
- Updated: 2023-06-23T11:06:24.000Z
- Author: Katelyn Chow
- Tags: btc, #helen, bitcoin, price, forecast, bullrun, crypto, cryptocurrency

After a 20% bitcoin price surge on the news of a series of Bitcoin spot ETF applications from TradFi investment giants from [Blackrock](https://cointelegraph.com/news/blackrock-spot-bitcoin-etf-new-sec-filings-wisdomtree-invesco?ref=metatalks.ai) to [Valkyrie](https://cointelegraph.com/news/valkyrie-submits-btc-spot-etf-application-to-go-with-its-futures-miners-etfs?ref=metatalks.ai), Bitcoin and crypto market sentiment has shifted dramatically from fear and denial to greed (65 points by the [Fear and Greed Index](https://alternative.me/crypto/fear-and-greed-index/?ref=metatalks.ai)) and near euphoric expectations.

![](https://lh4.googleusercontent.com/E1PvCfv8e7aWG2TCbdEsH_m7dmcdSLf4-Wfl56b5MS-2WYMMRKvIqWqjXuFElzmz9HrU7XHqV5A5pTuvcoBoqbmQm1KJwkQLYJE_X67DN3AakQbBtTv04Rtu-vb83sgc8_Lrr3ZBER3bN_vjM0wcMmwaj7uFW7jb "fig:")

Cameron Winklevoss, a co-founder of the crypto exchange Gemini, already calls it "The Great Accumulation" of bitcoin. Anthony Pompliano – entrepreneur, investor, and crypto influencer – [appears to share this view](https://twitter.com/APompliano/status/1671562331338293250?ref=metatalks.ai), among many others.

![](https://lh3.googleusercontent.com/7ZvKhPN2XbXRqTyQdv9a15_KUD4BNtRpdzM0HX6DFMfZKTlkeWUoFqqEcwUJEPG6-cU02EnuhC9HNtFt5n85eUPN_9ZZ1ze1A4QD6g9uVyKMXbs1mGQ75bvkplCrXt7hnXlh-AUSuANGLD_AMiv0ctooZrf6KMrg "fig:")

[https://twitter.com/APompliano/status/1671562331338293250](https://twitter.com/APompliano/status/1671562331338293250?ref=metatalks.ai)

It should be noted that this resurgence is occurring in the face of an "extremely inelastic" BTC supply. As [@APompliano](https://twitter.com/APompliano?ref=metatalks.ai) mentioned in an [interview](https://twitter.com/APompliano/status/1671667985260453891?ref=metatalks.ai) with CNBC, 68% of BTC's circulating supply has not moved in the last year.

![](https://lh6.googleusercontent.com/__eRQVWj_STqQtML82XDxrmhrtnHVUXG0E3Q6L99hrcAJxG6wp5yL2lS1M78stW3nOUJtyuc91ZX9ZEO8FYe0jdd6jGzfJN6oEy116ieBNvKD_NYJM6Wz00aOThJNyVXIvBvXXUEkU3MyYoUyES7dR5ZHhufUW5K "fig:")

*“When you have a fixed supply asset that’s highly illiquid and a bunch of demand comes into the market, the price has to go up,” — from the Pompliano* [*interview*](https://twitter.com/APompliano/status/1671667985260453891?ref=metatalks.ai)*.*

MicroStrategy Executive Michael Saylor [suggested](https://twitter.com/saylor/status/1671202228474982415?ref=metatalks.ai) on Twitter that retail investors may soon be pushed aside by increasing institutional demand. And many prominent industry analysts [reportedly](https://beincrypto.com/bitcoin-accumulation-race-industry-experts/?ref=metatalks.ai) agreed with him in that the SEC’s crackdown on exchanges such as Binance, Coinbase, and Kraken is part of a broader move to wrest control of crypto for Wall Street.

![](https://lh3.googleusercontent.com/_fNgd20_oFCPbRvOxBcPPz-BFA6YmIxelflAlqrMj6xC3myyvDVdSJa8nQtjs0n5ib8th7tllXHP96dEpAkDHe8_2oxqnCCWtW2xPztzFws7BcbGSf9DejjvtoKCzs9zxa_NXT3ueL5zD9JlomaQhAzuZJLIIpC5 "fig:")

This sentiment is affirmed in terms of both fundamental on-chain analysis and TA. According to the recent [Glassnode report](https://insights.glassnode.com/finance-bridge-edition-1/?ref=metatalks.ai), the "market has likely moved beyond a bottom formation phase, and recovery is well underway in spite of occasional price fluctuations." Some also [note](https://u.today/bitcoin-btc-just-recorded-major-bullish-signal?ref=metatalks.ai) the MACD, "a vital tool for traders," turned green on Monthly first time in about two years (the month isn't over yet, though).

![](https://lh4.googleusercontent.com/cS9NvOduodnClUrONrqwLcTrCQ_AvhYjpUImQBQ8jTLJF_EMrxZuhTRfQ5bRH7jubT0HCRJXcwtr4JnLePWY-AldBagzbcZ9bAdl6sdXjW4Pja7wl01QIprfyp1o-JpWnjBRD4rrDRRWvDsca7cuG9ooGKUpbbI_ "fig:")

![](https://lh4.googleusercontent.com/0BHfzUshJ6LrevYcx_SJ3PPGJDPyz3kFg9b2BvzonBNkTpFoOc0G-WEqpkTu6_QPaknAQA-ONDGTuilBQ2HkCKYXHCdMW7PdPGki0RxHQ6aNxTLHTTcpHEUyGtJuKgIdBc292OKF1xUcurHWDuliS5qPPEcB4o7M "fig:")

But seriously, what about the macro environment — with inflation, hawkish SEC, recession ahead, a regulative crackdown on crypto, and so on? Is it even the right time for such optimism?

![](https://lh4.googleusercontent.com/9343rVPhharse2Xbm__M8JFZKoUiFZg_NdrQGES1aHDqHtwZBjwCqHG8ADJLdqONqpVk-VRYbLYxAtVDvtb0Spph3zgSblDwUjCcd0vvPzTka37FO2cYQqJwYsna03Zjv0PxG5kPTddlEKVHCansA7i0uvsaJZ4c "fig:")

Actually, it well may be inflation won't be so "sticky" in the coming months, reducing the urgency for the SEC to raise that rate. Whereas a recession threat is a clear reason for the fiat system to use "quantitative easing" as its key tool to stimulate the economy and counteract the effects of a downturn.

![](https://lh5.googleusercontent.com/ph8jy_Cmtj_DhY9GYSEht-FyZCMNc0XGij3GnPTRzvWupsUeGKNb6EynQ4nSHzHYiSqBiUEa3xXqV9s19ofTZcBAQbk_A4dxzI2HJ4p4VbSC-2xn1z6dmf0jyl2kGWgeK2BVVVPiJEjyYI0kwwEUQLbpjRVA3AZe "fig:")

![](https://lh6.googleusercontent.com/o_hNg81RpQgiOtgAthZcc-Gg118lqCLH99jGI4mS-fMv_zbcmGUwlK0uwkxQxHuVjZBTdYr9wnJN-p3ARagr5QDVA1rlOpEd-0RpMLdXF9p-LD9ZDSxVRO6bixCQgVKICEaMZIbM97_ZZciMnU0sZm1eC_lNN3tv "fig:")