Bitcoin Whales and Retail Investors Fuel Renewed Optimism as BTC Price Rises
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Bitcoin whales have become more active recently, with a spike in $100K+ BTC transactions as price rose above $35K.
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The activity suggests increased appetite from institutions and whales due to spot ETF optimism.
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Analysts expect SEC approval of spot BTC ETFs in 2023 to further boost price and institutional involvement.
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On-chain data shows retail investors are also flocking back into BTC, with metrics indicating new small investor participation.
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Sustained involvement from both whales and retail is viewed as necessary conditions for a prolonged crypto bull market.