Bitfinex said new buyers entering the bitcoin market were seen as "price-insensitive" investors who have been hoarding bitcoins faster than miners can supply them, which could be positive for bitcoin prices in the future. "Currently, the combined balance of these groups [new buyers] is growing at a rate of about 19,300 bitcoins per month," Bitfinex analysts said in a market note on Monday.
Analysts emphasise that groups of bitcoin holders with fewer than one ("shrimp"), one to 10 ("crab") and 10 to 100 ("fish") are adding to their portfolios much faster than the current monthly issuance, which has remained around 13,400 since the halving in April 2024.
"This demand alone is enough to absorb all the new supply," the analysts said, adding that these investors have continued to buy regardless of price: "This group-level accumulation trend supports the broader bullish narrative that new buyers entering the bitcoin market are price-insensitive buyers who are relentlessly accumulating bitcoin with little disruption."
Bitfinex: Retail demand has surpassed bitcoin supply
2025-07-15 01:11:05
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