The market’s positive outlook on Bitcoin’s future price movements is reflected in this situation. Furthermore, data from Into The Block reveals a surge in the number of addresses holding over 1,000 BTC. This surge is mainly attributed to the introduction of BTC ETFs. Although the factors mentioned above, such as the accumulation of large amounts of BTC by whales and the increase in addresses holding substantial sums of BTC, indicate a significant rise in buying pressure for Bitcoin, it is important to acknowledge that the short-term forecast for BTC remains uncertain. Experts propose that the token is currently undergoing a re-accumulation phase, which could potentially result in heightened price volatility.
