Is FOMO back? Bitcoin first timers buy 140K BTC in 2 weeks

Key points:

• New Bitcoin market entrants have accumulated 140,000 BTC in July so far, Glassnode data shows.

• Buyers across the board have “aggressively” bought up dips, specifically below $118,000.

• Google Trends shows retail hype around Bitcoin is still historically low.

Bitcoin (BTC) “FOMO” is slowly coming back as new buyers up their stake by 140,000 BTC.

New research from onchain analytics firm Glassnode uploaded to X Thursday reveals how “fresh capital” is entering Bitcoin markets.

Bitcoin: New buyers meet “aggressive” dip-buying

Bitcoin retail interest has hit the headlines throughout 2025, but for the wrong reasons — mainstream buyers have stayed away despite the price frequently hitting new highs above $100,000.

Glassnode’s latest figures suggest that the trend is finally starting to shift.

“Over the past two weeks, the supply held by first-time $BTC buyers rose by +2.86%, climbing from 4.77M to 4.91M BTC,” it reports. 

“Fresh capital continues to enter the market, supporting the latest price breakout.”

Bitcoin first buyer supply. Source: Glassnode/X

BTC/USD hitting new all-time highs above $123,000 has sparked frenzied investor behavior across newer and older cohorts.

As Cointelegraph reported, short-term holders — entities buying within the past six months and hodling since — now have an aggregate cost basis above $100,000 for the first time.

Glassnode’s cost basis heatmap, meanwhile, shows that buyers “stepped in aggressively” during this week’s BTC price dip below $116,000.

“That’s over $23B in value added near the local top, signaling strong conviction and possible positioning for further upside,” it told X followers after 196,600 BTC was bought up between $116,000 and $118,000. 

Bitcoin cost basis distribution heatmap. Source: Glassnode/X

Mainstream BTC interest needs more than all-time highs

Retail interest in Bitcoin nonetheless remains comparatively muted.

Related: Bitcoin ETF inflows show institutions ‘doubled down’ on BTC at $116K

Data from Google Trends shows a modest uptick in search activity for “Bitcoin” over the past two weeks, but compared to five-year historical data, mainstream “FOMO” is distinctly lacking.

Worldwide Google search data for “Bitcoin” (screenshot). Source: Google Trends

In some of its latest X analysis, meanwhile, research firm Santiment suggests that interest among those retail investors who did pay attention has already shifted to altcoins.

“With Ethereum leading the way, there has been a huge jump in social media mentions of many altcoins and higher price targets,” it reported Wednesday. 

“With Monday's Bitcoin all-time high leading to mass retail FOMO leading to the top, the mass FOMO has shifted to Ethereum today (with $4K+ price calls across X, Reddit, & Telegram).”

Crypto social media activity data. Source: Santiment/X

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.