Bitcoin whales have accumulated 910,000 BTC in wallet addresses between the price range of $29,930 and $30,800, resulting in Bitcoin surpassing the $31k price level. Analysts predict that Bitcoin has a good chance of reaching $35,000 due to a lack of resistance. The rally in Bitcoin’s price has positively impacted the entire crypto market, but top cryptocurrencies like Ethereum (ETH) and XRP are still down. Asset managers such as Fidelity, BlackRock, WisdomTree, Invesco, and VanEck are seeking to launch a Bitcoin ETF, although the U.S. SEC has rejected every request so far. South Korea recently passed its first Crypto Asset Bill, and Ripple’s partner Volante completed FedNow testing with a custodian bank, potentially leading to XRP reaching $1.
AI Sentiment: Positive
