Posted 1/7/2024, 10:15:59 AM
Crypto Market Sees Renewed Confidence as Bitcoin Whales Accumulate Ahead of Potential ETF Approvals
- $2.5 billion has flowed back into the crypto market following the recent shakeout, signaling renewed confidence
- Bitcoin traders are adopting a cautious approach by reducing leverage ahead of potential BTC ETF approvals
- Crypto whales may be rapidly accumulating Bitcoin in anticipation of SEC decisions on BTC ETFs
- Bitcoin saw its largest spike in $100k+ transactions in nearly 2 years, suggesting significant whale activity
- Analysts believe BTC price has more room to grow as spot BTC ETF approval is likely not yet fully priced in