Bitcoin Sees $4.9B in New Money Inflows Amid Price Rally Stagnation
- Cumulative inflows of “new money” to Bitcoin reached $4.9 billion as of October 5.
- Existing investors contributed to three-fifths of the $12.8 billion increase in realized cap during this period.
- More than 80% of profit-taking occurred from short-term holders when prices exceeded $85,000.
- Attempts to push Bitcoin above $87,000 have failed four times since September, with current trading around $83,000.
- 86% of coins sent to exchanges on a recent day came from short-term holders realizing profits.
The data indicates that while new capital inflows are present, they do not fully account for the growth in Bitcoin’s realized cap, suggesting existing holders are driving much of the price movement.
Currently, the aggregate cost basis for short-term holders remains at approximately $78,250 as of October, highlighting their profitability despite market fluctuations.
