Whales in the Bitcoin ecosystem have been accumulating a significant amount of BTC, with large wallet addresses holding at least 0.1% of Bitcoin’s total supply adding $1.5 billion worth of BTC over two weeks. This increase in accumulation follows the anticipation of a spot Bitcoin ETF in the US. The price of Bitcoin could be influenced by the 6.2 million wallets that acquired approximately 2.6 million BTC within the $30,000 price range. Ethereum has also witnessed a rise in its long-term holders, surpassing Bitcoin. The behavior of whales, particularly with Ethereum gaining attention, is becoming more relevant in the crypto market.
AI Sentiment: Positive