Bitfinex analysts say this level of accumulation “supports the broader bullish narrative that new buyers entering the Bitcoin market are price-agnostic buyers.”
New buyers entering the Bitcoin market are seen as price-agnostic and are scooping up the cryptocurrency faster than miners can supply, a likely boon for the price of Bitcoin.
“Currently, the combined balance of these cohorts is expanding at a rate of approximately 19.3K BTC per month,” Bitfinex analysts said in a markets report on Monday.
The analysts pointed out that the Shrimp (<1 BTC), Crab (1–10 BTC), and Fish (10–100 BTC) Bitcoin (BTC) holder groups are growing their Bitcoin portfolio much faster than the current monthly issuance rate, which has been around 13,400 BTC since the April 2024 halving.
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