Bitcoin whales, entities holding a substantial portion of the Bitcoin supply, have accumulated over a billion dollars worth of BTC in just two weeks. This accumulation occurred during a period of price volatility, with Bitcoin experiencing a dip followed by a resurgence after a court ruling linked to Grayscale’s pursuit of a Bitcoin ETF. However, the US Securities and Exchange Commission (SEC) introduced a regulatory twist by deferring its verdict on all active Bitcoin ETF applications, causing Bitcoin to regress below the $26,000 mark. The possibility of a Bitcoin ETF remains a game-changing prospect that could reshape the crypto outlook, and the behavior of these crypto whales signifies growing institutional interest in Bitcoin.
AI Sentiment: Positive
