Prepping For $100,000: Bitcoin Shark And Whales Spend Over $18 Billion To Buy BTC
Summary
Bitcoin's price surge around $70,000 is attributed to large whale and shark addresses accumulating significant amounts of BTC. Shark addresses, holding 100-1,000 BTC, accumulated 268,441 BTC in the past 30 days. The launch of Spot Bitcoin ETFs in the US has further fueled accumulation sentiment. Whales have also increased their activity, with $1.3 billion worth of BTC exchanged between whale addresses in the past 24 hours. Despite failing to stabilize above $70,000, the accumulation trend, institutional interest, and approaching halving indicate the potential for Bitcoin to reach $100,000.
