Which Cohorts Have Been Buying and Selling this Bitcoin Rally?

Bitcoin: All Cohorts vs Issuance (Glassnode)

When we aggregate the data from all cohorts, including miners, exchanges, and retail investors, over the past 30 days, it shows that all groups combined have accumulated a total of 26,000 BTC. But again, this demand has been consistent for the past three months since September, outstripping supply and issuance.

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