Opening bell - Issue 23
Research29 July 2024Copper
Prepare for the week with key data points and trends in the digital asset marketplace.
Opening bell | Issue 23 report highlights:
Long-term Bitcoin holders saw a significant shift last week, adding 70,000 BTC to their supply, marking the highest monthly net position change this year.
This comes after a major reduction of over half a million coins in March during an all-time high. US ETF investors have acquired nearly 300,000 additional Bitcoins, bringing the total to 915,000 BTC. The daily average change in BTC holdings is +0.2%, with ETF holdings projected to surpass 1 million BTC by early November. Despite lower inflows recently, the overall trend indicates sustained growth in long-term holdings.
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