The percentage of Bitcoin supply held by addresses that bought within the last 12 months has reached its highest point in two years, signaling renewed interest from newer investors.
This surge has been driven in part by a significant inflow of capital into Bitcoin exchange-traded funds (ETFs).
According to data from @intotheblock, Bitcoin ETFs saw a remarkable inflow of $2.1 billion over the last five days, contributing to a strong upward trend in demand.
Transaction fees on the Bitcoin network have also tripled in just a week. This spike was largely driven by a resurgence of meme coins on Bitcoin, which had been losing traction over recent months. As a result, network activity has increased, pushing fees higher.
After 193 trading days, cumulative net inflows for 11 Bitcoin ETFs have now reached an impressive $20 billion. Excluding Grayscale’s GBTC, the total rises to $40 billion.
Over the past three days alone, the 11 Bitcoin ETFs attracted $1.39 billion, with no recorded outflows.
Leading the charge is BlackRock’s IBIT, which added 11,331 BTC ($762 million) to its holdings, bringing its total to 380,971 BTC ($25.7 billion)—representing over one-third of all U.S. spot Bitcoin ETF holdings.
Meanwhile, a notable “diamond hand” trader sold 199 BTC ($13.55 million) for profit just one hour ago. This individual originally withdrew 801 BTC ($8.25 million) from HTX five years ago and has since sold 500 BTC ($32.13 million) in the past month, leaving them with 301 BTC ($20.42 million) and a total profit of $44.28 million.
Whales are increasingly accumulating Bitcoin, a pattern reminiscent of the post-COVID crash in 2020. This behavior suggests anticipation of a potential price surge following Bitcoin’s next halving event, positioning these large holders for long-term gains.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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