In a significant shift of momentum in the crypto market, Bitcoin Whales have accumulated over 81,000 BTC in the past six weeks. This news came directly from Santiment, an analytics platform. The quiet buying spree appears as retail investors are stepping back and selling off a total of 290 BTC during this same period. The accumulation was observed in wallets holding between 10 and 10,000 BTC, indicating growing confidence among long-term investors.

These wallets saw a 0.61% increase in holdings, which indicates a classic pattern where Whales seize the opportunity to accumulate more BTC, while small investors exit the market due to uncertainty.

Positive Market Momentum

Bitcoin is trading at $ 96,000 today, representing a 2.4% increase over the past 24 hours. This positive momentum is also being maintained by a surge in Bitcoin exchange-traded fund (ETF) inflows, which have exceeded $5.1 billion since mid-April. Signaling a renewed interest from mainstream financial players, the steady buying from ETFs has provided a strong support base for the price.

Institutional investment is also gaining popularity for BTC. A report by Bernstein predicts that the institutional BTC holdings may rise to $330 billion by 2029. Strategy, the largest Bitcoin holder, may own nearly $124 billion of that total amount by that time, which highlights the continuously growing role of institutional investors in the digital asset market.

Regulatory and Policy Shift in the USA

The shifting regulatory and policy environment in the United States of America is further fueling the bullish sentiment in the market. New Hampshire is the first state in the country to legalize public investment in Bitcoin or other digital assets. This can pave the way for government-level adoption of cryptocurrencies in other states as well. Despite concerns over trade tensions, rising interest rates, and global economic uncertainties, Bitcoin has risen by 30% since early April. The premier cryptocurrency may be on the path to another major breakthrough. As the institutional investments increase, Whale accumulation rises, and favorable regulations emerge, Bitcoin may be on its way to reach $100K in value.

Your $68,888 crypto bonus is waiting! Sign up on Coinflare, and trade Bitcoin with ease. Claim your reward before the offer expires!