Crypto analyst Axel Adler Jr. said that new investors’ share of capital in the Bitcoin network rose to 11.2% as of October 21, up from a year-to-date low of 6.6% on July 5. According to ChainCatcher, the increase indicates that new capital is gradually returning, though the inflow remains below levels above 20% seen in 2024 and 2025.

Bitcoin was trading at about $82,300, while short-term holders had an average cost basis of $75,100 and unrealized gains of about 9.5%. The group had remained in profit for 63 consecutive days since August 20, with gains reaching 16% on October 5.

A rise in new investors’ capital share above 11.5% would indicate stronger buyer demand, while a drop below 10% could signal that new inflows have stalled. If Bitcoin falls below $75,100, short-term holders would collectively move into losses, potentially increasing selling pressure.