Bitcoin Whales Are Hungrier Than Ever for BTC—Here’s Why
Bitcoin whales are increasing their demand for the cryptocurrency, with the highest demand ever recorded from this group of investors. This surge in demand has historically led to price increases. The current demand from these large investors has outpaced the creation of new Bitcoin for the first time, potentially resulting in a price rally following the upcoming halving event scheduled for next week. Analysts predict a price increase due to greater scarcity resulting from the halving and the flow of capital into the market through popular Bitcoin spot ETFs. The price of Bitcoin has risen significantly this year, currently trading at around $69,316 per coin after reaching an all-time high of nearly $74,000 last month, compared to under $45,000 at the start of the year.
