From Investing.com:

Bitcoin (BTC) price holds steady at $43,060.65 with a 0.14% drop in 24 hours. Price fluctuated between $42,584.34 and $43,422.49. BTC whales with 1,000 to 10,000 coins reach 1,958—highest count since November 2022. Whales holding 100 to 1,000 coins hit a low of 13,735—the lowest count since November 2022.

BTC whales with 1,000 to 10,000 coins increased by 47 addresses in six days, while smaller whales recorded 157 fewer addresses. The significant increase in larger whales could reflect a shift in investment strategies—potentially pursuing alternative investments.

Spot Bitcoin ETF products approved by the SEC in January have changed the dynamics of Bitcoin accumulation, leading to a surge in the number of large Bitcoin whales. As mainstream investors adopt ETF offerings, the funds generated contribute to the acquisition of more Bitcoin, potentially leading to an increase in whale count.

Overall, Bitcoin’s price remains steady despite fluctuations. The number of large whales is increasing while smaller whales seem to be reverting their stakes, potentially in pursuit of alternative investments. The approval of spot Bitcoin ETF products has contributed to the surge in the number of large Bitcoin whales, with more whales likely to emerge as the products gain traction.



Read more: Bitcoin (BTC) Whale Wallets Show Intriguing but Contrasting Trends By U.Today