Bitcoin Investor Cohorts Active in Accumulating BTC
Analyst James Van Straten highlighted the recent accumulation activities of Bitcoin investor cohorts and compared them to the influx of spot exchange-traded fund (ETF).
Investor cohorts represent groups of holders categorized by their cryptocurrency holdings, with a collective interest in their current accumulation behaviors.
Net Flows into BTC Wallets
Straten shared a chart illustrating the recent net flows into the wallets of BTC investors, indicating a pattern of consistent accumulation.
The data also included the network’s Monthly Issuance, representing the amount of BTC produced by miners through block solving in the past month.
- Bitcoin investors have been accumulating at a higher rate than the Monthly Issuance, indicating a faster pace of BTC acquisition than production.
- Over the last thirty days, investors purchased 71,000 BTC, nearly 5.5 times more than the 13,000 BTC minted by miners.
- Holder cohorts have consistently outpaced miners in BTC acquisition over the past year.
Exchange Withdrawals Fuel Extra Bitcoin Supply
The excess Bitcoin purchased by investors beyond production levels is sourced from exchanges, which are not included in investor cohorts.
Bitcoin Exchange Reserves have experienced a significant decline, leading to reduced availability of BTC for withdrawal and contributing to increased investor demand.
ETF Inflows Versus Investor Accumulation
Despite significant inflows of $1.4 billion into ETFs, monthly net accumulation by investors surpassed $5.1 billion, reflecting robust market demand.
BTC Price Stability
Bitcoin’s price has stabilized around $71,000 following a previous surge earlier in the week.
Hot Take: Unprecedented Bitcoin Investor Demand
On-chain data indicates that Bitcoin investors have been purchasing BTC at a rate 5.5 times higher than miners’ production, showcasing exceptional demand for the cryptocurrency.
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