Bitcoin Surges Above $44,500, What’s Causing This Rise?
Summary
Bitcoin has surged over 4% to near $45,000, reaching levels not seen since the post-ETF crash. On-chain data from Santiment shows that BTC whales, entities holding at least 1,000 BTC, have been accumulating, now controlling over 40% of the supply. This accumulation by whales is likely a significant factor behind Bitcoin's recent recovery. It remains to be seen if they will continue to support Bitcoin or sell to realize gains.
