Bitcoin ETF Purchases Revive After a Lull, Handing Prices a Tailwind

Bitcoin ETF purchases are rising again after a lull that stretched through the first half of the year, bringing institutional and retail money back into Bitcoin. The rebound comes as the supply of Bitcoin left untouched for at least a year climbs to its highest level of the year, a sign that long-term holders are not selling. Together, the two trends put Bitcoin demand on firmer footing just as central banks begin raising interest rates and money supply growth slows.

Matthew Weller, StoneX Media, Head of Market Commentary, has spent more than 15 years analyzing financial markets and has delivered more than 1,300 educational webinars on trading and trading psychology. His research covers forex, equity and commodity markets through a mix of fundamental, technical and sentiment analysis, the same toolkit he applies to Bitcoin's cycle, holder behavior and fund flows.

Key Themes

• Bitcoin ETF purchases are turning higher after a lull through the first half of the year.
• The supply of Bitcoin untouched for at least a year sits at its highest level of the year.
• Central bank rate hikes raise the opportunity cost of holding Bitcoin for some traders.

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Bitcoin ETF Purchases Rebound and Add a Tailwind to Prices