Recently, cryptocurrencies, especially Bitcoin, have begun to gain an important place in the financial world. While the value of these digital assets is gradually increasing, large investors have also begun to show interest in this field. Especially with the approval of Bitcoin spot ETFs in the USA, it is observed that interest and investments in Bitcoin are increasing among large investors. In this context, investors with large amounts of capital, called BTC whales, have recently gone on a significant accumulation spree.
According to crypto analyst Ali Martinez, Bitcoin whales are on a buying spree, purchasing 140,000 BTC worth $6.16 billion in the last three weeks. they lived.
#Bitcoin whales have been on a buying spree, acquiring 140,000 $BTC over the past three weeks, amounting to $6.16 billion! pic.twitter.com/ViRnYiJHmp
— Ali (@ali_charts) February 10, 2024
NEWS CONTINUES BELOW
The launch of Bitcoin ETFs in the United States on January 11 was the result of a long struggle and offered investors the opportunity to invest in Bitcoin without holding real assets. This is seen as an important step towards Bitcoin now being accepted as part of the traditional financial system.
The increase in BTC whales’ holdings shows that investors are confident in Bitcoin’s long-term potential despite market fluctuations. Most experts agree that big whales play a decisive role in the market and such investors have the power to manipulate prices. However, this can also be attributed to the fact that Bitcoin is gaining more and more attention. The approval of Bitcoin ETFs made access to Bitcoin easier for institutional investors, which allowed large investors to enter the market.
Besides these, the interest of BTC whales in the market is an important indicator that shows the future potential and acceptance of cryptocurrencies. However, one should not ignore the fact that these major players can have significant influence on the market and manipulate prices.
Net inflows also continue to increase. According to BitMEX Research, spot Bitcoin ETFs saw strong inflows of $541.5 million on Friday, for a total net inflow of 11,388 BTC.
Finally, experienced trader and creator of Bollinger Bands, John Bollinger, talked about the BTC price trend and said:
“The expectation now should be for an upward move in the upper band until a divergence is detected.”
You can follow the current price movement here.
