Bitcoin Newcomers Accumulate 140K BTC, Cost Basis Tops $100K
On-chain data from Glassnode shows first-time Bitcoin buyers added 140,000 BTC over the past two weeks, lifting their holdings by 2.86%. At the same time, short-term holders—those who bought within six months—now hold Bitcoin with a cost basis above $100,000 for the first time. Glassnode’s cost-basis heatmap reveals 196,600 BTC changed hands between $116,000 and $118,000, injecting over $23 million in value during a recent dip. Despite this heavy accumulation, retail FOMO remains muted: Google Trends data for “Bitcoin” lags earlier peaks, while altcoins like Ethereum attract more interest. As new investors and resilient short-term holders absorb supply, exchange liquidity tightens, creating a short-term squeeze that underpins price stability. Institutional and high-net-worth buyers continue to pick up Bitcoin around key support near $11,800. Overall, robust accumulation by fresh Bitcoin holders and confident short-term traders signals a steadier bull market. The rally’s next phase may depend on broader retail participation.
Bullish
Robust Bitcoin accumulation by new buyers and confident short-term holders points to reduced exchange supply and sustained demand. The 140,000 BTC inflow and a cost basis exceeding $100K highlight growing conviction among incoming and existing holders. Coupled with institutional and high-net-worth purchases around key support levels, this dynamic creates a supply squeeze that underpins price stability and potential upside. While muted retail FOMO may cap short-term rallies, the overall on-chain buying trend supports a bullish outlook for Bitcoin.