Whale investors have accumulated about 117 Bitcoins since the SEC vs Grayscale case development. The SEC’s decision against the appeal in the case has raised expectations of a Bitcoin spot ETF becoming a reality. Smart-money investors are using the consolidation phase to add to their Bitcoin stashes. However, there are concerns about Bitcoin’s next movements, as some long-term holders predict a price correction in the short-term. Bitcoin’s price increase has also boosted its demand in the derivatives market. The number of long positions continues to outpace the shorts, indicating a hopeful outlook for Bitcoin’s short-term movement. AMBCrypto advises readers to consider cryptocurrency trading as a high-risk investment and to conduct their own research.
AI Sentiment: Positive