New Bitcoin Buyers Accumulated 400,000 BTC Over Two Months
Photo: TokenPost
New buyers in the current Bitcoin cycle accumulated about 400,000 Bitcoin (BTC) over two months, lifting their holdings to 4.27 million BTC as of Oct. 11, on-chain analyst Murphy said. The additions represented roughly 2% of Bitcoin’s circulating supply and averaged about 200,000 BTC per month. By comparison, new buyers accumulated about 340,000 BTC over seven months from January through August 2023. Bitcoin’s price is about 2.6 times higher than during the comparable period in 2023. Murphy said the latest accumulation therefore required substantially more capital and reflected stronger new demand.
Source: TokenPost
