Whales Accumulate Billions
Bitcoin whales, investors with large holdings, have been on a buying spree, adding 20,000 BTC (worth $1.4 billion) to their wallets in the past week. This coincides with Bitcoin’s recent surge above $70,000.
Institutional Investors Join the Party
Institutional investors are also betting big on Bitcoin. Spot Bitcoin ETFs have seen inflows of nearly $800 million this week alone. These funds could drive Bitcoin’s price to new highs.
Bulls Ready to Buy Dips
Analysts believe that Bitcoin’s price could reach $95,000 in its next rally. On-chain data shows that there is enough capital to buy up any price dips, with whales loading up on stablecoins.
No Need to Panic
Despite recent price fluctuations, analysts say there’s no need to worry. The number of non-empty stablecoin wallets is increasing, indicating that investors are preparing for further market growth.
Current Market Status
As of writing, Bitcoin is trading around $67,200, down slightly in the last 24 hours.
