Bitcoin whales acquire 30,000 BTC worth $1 billion in the past week, driven by increasing Bitcoin spot ETF applications.
Institutional activity in BTC on the rise, with an uptick in large BTC transactions above $100,000.
BTC’s recent surge brings it above $35,000, gaining 15% in the past week.
On-chain data indicates Bitcoin whales have been aggressively accumulating in recent days, purchasing over 30,000 BTC worth about $1 billion over the last week.
According to crypto analyst Ali, the rush of Bitcoin spot ETF applications appears to be fueling increased appetite for Bitcoin among whales and institutions. Blockchain analytics platform IntoTheBlock also shows institutional activity rising for the top cryptocurrency.
#Bitcoin whales have purchased over 30,000 $BTC within the last five days, worth nearly $1 billion! pic.twitter.com/oclJBY5j6a
— Ali (@ali_charts) October 28, 2023
The number of large BTC transactions worth over $100,000 has reached new highs in 2023. These spiked in
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