Analyst: New BTC buyers' holdings continue to rise, increasing by 300k coins from the bottom, as market risk appetite gradually returns.

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ME News Report, May 1st (UTC+8), according to analyst Murphy, the on-chain holdings of short-term Bitcoin holders have increased from the previous low of 3.38 million coins to 3.68 million coins, despite being 1 million coins below the previous bull market peak. Analysis indicates that as the macro environment improves, investors’ risk appetite is rebounding. Through historical comparison, the current holdings of new buyers are comparable to the late bear market levels in mid-August 2022, when Bitcoin’s price rebounded from about $19,000 to $24,000, a 26% increase; whereas this rebound has seen an increase from $62,000 to $79,000, a 27% rise. Although the capital required for the same BTC holdings is 3 to 4 times higher than in the past, a large amount of well-funded new buyers are entering the market, indicating changes in market depth and participant structure, further consolidating Bitcoin’s position as a mainstream asset. (Source: MLion)

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