Bitcoin whales and sharks, holders of 10 to 10,000 BTC, are amassing the most Bitcoin this year, taking advantage of the bearish market. According to crypto analytics platform Santiment, these whales have accumulated 13.03 million BTC, about 66% of the total circulating BTC supply, indicating a potential price surge. Tether whales are also accumulating, holding over 15,030 million USDT. The accumulation of both BTC and Tether by large investors is viewed as a bullish signal for the cryptocurrency market. The surge in whale accumulation is attributed to the influx of ETF approval requests received by the U.S. SEC. The Santiment analytics platform suggests that whales have been observing the market and waiting for the right moment to invest heavily. The growing interest from Wall Street’s major investors is notable as they have been hesitant to accept Bitcoin as a decentralized currency immune to government influence.
AI Sentiment: Positive