Data: Bitcoin New Buyer HODLings Revert to 3.719 million BTC, Equivalent to September 2022

BlockBeats News, May 15th – Analyst Murphy stated that First Buyers (FB), those who are buying Bitcoin for the first time, are bringing fresh blood to the market while also absorbing excess supply. As of data from May 13th, the Bitcoin holdings of first-time buying addresses have returned to 3.719 million BTC, an increase of 40,000 BTC compared to May 1st.

The continuous accumulation by new buyers reflects a gradually recovering investor risk appetite. Compared to the previous cycle, the current 3.72 million BTC is equivalent to September 21, 2022. The analyst believes that when the holdings of new buyers reach above 4 million BTC, the overall market structure will become healthier. At that point, it can be largely confirmed that there will be no more easy large-scale declines or breaking below previous lows.