Bitfinex says new Bitcoin buyers added about 570,000 BTC since late July

In short

• Bitfinex said on 17 October 2026 that new bitcoin buyers added about 570,000 BTC since late July despite ETF selling.
• The average cost of those coins is about $75,000 and has held on every pullback since August, according to Bitfinex.
• Short-term holders added about 422,000 BTC from 29 July, with an average entry near $74,900, analyst Axel Adler Jr. said.
• On X, watchers said long-term demand can tell a different story than short-term ETF flows, though exchange wallet moves were mostly internal shuffling.

Bitfinex said on X on 17 October 2026 that new Bitcoin buyers have added about 570,000 BTC since late July, even while exchange-traded funds (ETFs), which are funds traded like shares, have been selling. The average cost of those coins is about $75,000, and that level has held on every pullback since August, according to Bitfinex. Bitfinex is a long-running cryptocurrency trading platform.

Bitcoin at $81,490 on 17 October

As of 2026-10-17 15:20 UTC, Bitcoin traded at $81,490, down 0.12% in 24 hours, while Bitcoin's share of total crypto market value stood at 59.39%, according to InvestIn.News market data. Total crypto market value was $2.75 trillion. This is the price environment in which the new Bitcoin buyers described by Bitfinex have been operating.

How the 570,000 BTC figure compares

The Bitfinex figure was also carried on 17 October by Coinfomania, a crypto news site. In a separate note the day before, analyst Axel Adler Jr. said short-term holders' Bitcoin holdings climbed to roughly 4.08 million BTC, up about 422,000 BTC or 12% from 29 July and the highest level since mid-June. He put the average entry price for those holders at about $74,900.

What the $75,000 line means for holders

For ordinary buyers who began adding since late July, the $75,000 average cost is the line where their positions flip from profit to loss. Axel Adler Jr. said a fall below the short-term holders' $74,900 cost basis could intensify selling pressure, because holders facing losses are more likely to sell. The current price of $81,490 leaves a cushion above that level.

What watchers said on X

Unique Human | Changer (@changerofficial) said on X that demand over the longer run need not tell the same story as short-term ETF flows. BTC Pulse (@BTCPulse00) said on X that exchange-tagged wallets took in more Bitcoin than they sent out five days running, though most of that volume was internal shuffling.

Why $80,000 matters too

Glassnode, a blockchain data firm, said on X that a stage bottom may have formed, with coins changing hands just above $80,000, should the pattern hold. According to the firm, the previous day's decline carried signs of seller capitulation, much as it did at local lows in early, mid and late September. That gives traders a second level to watch alongside the $75,000 average cost.

Questions readers ask

How many Bitcoin have new buyers added since late July?

Bitfinex said on X on 17 October 2026 that new bitcoin buyers have added about 570,000 BTC since late July, with an average cost of about $75,000 that has held on every pullback since August.

What are people saying about the Bitcoin accumulation?

Unique Human | Changer (@changerofficial) argued on X that what longer-run demand shows and what short-term ETF flows show can point in opposite directions. BTC Pulse (@BTCPulse00) said exchange-tagged wallets had taken in more Bitcoin than they sent out for five days running, though most of that movement was coins being shuffled inside exchanges rather than new money arriving.

Our view

The accumulation of 570,000 BTC since late July, as reported by Bitfinex, looks mostly like real absorption of supply rather than purely fresh outside money. ETF sales have not flushed out these buyers, and the $75,000 average cost has held on every pullback since August. That persistence is notable. Yet the figure is not airtight: Axel Adler Jr . counts only 422,000 BTC added by short-term holders over a similar period, and BTC Pulse notes that exchange-tagged wallets largely moved coins internally. The gap between those numbers leaves room for reshuffling.

The view would strengthen if independent blockchain data confirm the Bitfinex cohort and if Bitcoin continues to hold above the $75,000 average cost on a wave of ETF outflows. A decisive close below that level would change the picture.

Follow the latest ETFs updates as they happen on ETFs NewsFeeds.

— Keshav Aggarwal