Bitcoin accumulation hassoftened significantly but as 2022 draws to a close, the U.S. is buying more BTC than any other region, according to CrytoSlate’s analysis of Glassnode data. A similar pattern of accumulation and distribution was noted with Ethereum.

 Data on Bitcoin accumulation and distribution by the U.S., EU and Asia regions shows strong bullish sentiment from the U.S. and EU in the first half of the year, leading to high accumulation levels for those regions. At this time, Asia was selling. Leading into Christmas, the U.S. is accumulating again, albeit at weak levels.

Analysis of Ethereum accumulation and distribution by regions shows a similar pattern, such as the U.S. and EU flipping to heavy accumulation post-Terra collapse, while Asia went the other way.