Bitcoin Investors Are Buying 5x Of What Miners Are Producing: Data
Summary
Bitcoin investors have been accumulating at a rate five times higher than miners' production. The balance change of all investor cohorts turned highly negative last month but has now flipped into positive territory with a sharp spike. Investors have added a net 70,000 BTC to their wallets over the past month, outweighing the 14,000 BTC monthly issuance. This accumulation excludes exchange-related wallets, indicating a positive sign for the market. However, it remains to be seen how long the market will continue in accumulation mode. Bitcoin's price briefly surpassed $61,000 but retraced to $60,600.
