Large Bitcoin investors, known as sharks and whales, have been accumulating the cryptocurrency and now control the highest amount they’ve held in 2023, equivalent to 13.03 million coins. These entities, defined as wallets holding between 10 and 10,000 BTC, now own over 66% of the circulating supply. Additionally, wallets holding between 100,000 and 10 million USDT tokens have accumulated $15 billion worth of the stablecoin. It is noted that major financial institutions like BlackRock, Fidelity, JP Morgan, and others are actively working to provide access to Bitcoin. The accumulation by whales and sharks seemed to intensify after BlackRock filed for a spot Bitcoin exchange-traded fund. The market responded with increased activity and Bitcoin’s price reaching a new high before correcting to trade at $26,800.
AI Sentiment: Positive