Bitcoin Sees $4.9 Billion in Monthly Inflows Amidst Existing Holder Activity

Bitcoin attracted approximately $4.9 billion in new capital over the 30 days leading up to October 5, 2026, according to data from Glassnode. While this figure suggests a robust influx of investment, the majority of the network's valuation gains were attributed to existing holders trading coins among themselves rather than new buyers entering the market.

Glassnode's report, titled "A Rally Running Light," indicates that new capital represented less than two-fifths of the overall increase in Bitcoin's realized capitalization, which rose by about $12.8 billion during the same period. This growth in realized cap reflects the price at which coins last changed hands on-chain, highlighting that much of the price appreciation stemmed from existing holders selling to one another at higher prices.

On October 4, Bitcoin achieved a significant milestone by closing above $85,000 for the first time. Notably, 86 percent of the exchange inflows on that day came from short-term holders taking profits. However, trading volume has been lower than average, with combined spot exchange and ETF trading averaging $6.8 billion per day, which is below 90 percent of trading days since January 2024. Glassnode cautioned that this low volume could lead to potential corrections if new inflows do not increase significantly.

For the current rally to gain further momentum, Glassnode outlined two key conditions: Bitcoin must achieve two daily closes above $76,700, identified as the True Market Mean, and there needs to be a resurgence in realized cap growth driven by stronger demand from new buyers and increased ETF inflows, rather than just existing holders trading among themselves.

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Source: KLEA News