Bitcoin whales and sharks, referring to major holders of the cryptocurrency, have been accumulating new coins at a significant rate in recent weeks. This accumulation intensified after BlackRock filed for a Bitcoin exchange-traded fund (ETF). According to on-chain analytics firm Santiment, holders with between 10 and 10,000 BTC in their wallets have purchased over 154,600 BTC, valued at over $4.75 billion, since the end of April. The market responded positively to BlackRock’s filing, with Bitcoin reaching a new high for the year above $31,000. Prominent analyst Willy Woo suggests that if eight institutions invest 5% of their assets under management (AUM) into Bitcoin, the cryptocurrency’s price could surge to $310,000. Several financial giants, including BlackRock and Goldman Sachs, are actively working to provide access to Bitcoin. The article concludes with a disclaimer that the expressed views and opinions are for informational purposes only and not financial advice.
AI Sentiment: Positive