Bitcoin Sees $4.9B in New Money Inflows, Price Rally Stalls
- Rolling cumulative inflows of “new money” to Bitcoin reached $4.9 billion by Oct. 5.
- Existing investors contributed to three-fifths of the $12.8 billion growth in realized cap during this period.
- More than 80% of profit-taking above $85,000 was from short-term holders since Sept. 21.
- Attempts to push BTC above $87,000 have failed four times due to thick overhead liquidity.
- Short-term holders’ realized price is approximately $78,250 as of Oct. 7.
The analysis indicates that while new capital is entering the market, it has not significantly driven Bitcoin’s price increase compared to existing investors trading at higher prices. The recent surge in profit-taking among short-term holders suggests sensitivity to market volatility.
As of now, Bitcoin’s price remains around $83,000, reflecting a modest month-to-date decline of about one percent despite substantial new money inflows and realized cap growth.(Source)
