What are Bitcoin whales doing as BTC hovers around the $96,000 mark?

In the context of Bitcoin fluctuating around the $96,000 mark, the movements of "Bitcoin whales" – large investors – are very noteworthy. Recently, the price of Bitcoin has experienced a slight correction after approaching near the $100,000 threshold. This correction comes alongside MicroStrategy, one of the largest companies holding Bitcoin, continuing to purchase 55,000 BTC at an average price of nearly $98,000, indicating that institutional demand remains strong despite short-term market fluctuations.

Interest from financial institutions, particularly the net inflow of capital into Bitcoin ETF funds, has also increased significantly, with more than $484 million recently invested. This suggests that although the market is undergoing corrections, confidence in Bitcoin remains strong, which could drive prices back up.

Additionally, investor sentiment is also greatly influencing the price of Bitcoin. The potential emergence of a new Treasury Secretary who supports cryptocurrencies is contributing to optimism within the investment community.

In summary, "Bitcoin whales" like MicroStrategy are seizing the opportunity to buy while many other investors maintain a wait-and-see attitude for positive signals from the market and policies of the new administration.