Bitcoin’s surge to $35K sparks uptick in whale and retail activity By Investing.com
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‘s recent rally has seen a surge in both institutional and retail investor activities, with the cryptocurrency stabilizing near $34K after reaching its highest value since May 2022 of over $35K. This marks a significant 107% year-to-date increase, fueled by anticipation around spot exchange-traded funds (ETFs) and a rise in safe haven demand.
Last week, Bitcoin transactions exceeding $100K, typically associated with ‘whale’ investors, reached a year-to-date high of 23,400. This increased activity coincides with the filing of Blackrock (NYSE:)’s ETF application and is believed to have amplified interest in Bitcoin among whales and institutions, according to data from IntoTheBlock.
The Securities and Exchange Commission (SEC) is expected to approve several spot-based ETFs next year. This development could potentially push Bitcoin’s market value to $42K or beyond.
Meanwhile, Deutsche Digital Assets’ data indicates that retail investor activity is also on the rise. The onchain activity index for small entities reached a new annual high of 1.5 last week, suggesting an increased participation from small investors.
This surge in both institutional and retail participation underscores the growing interest in Bitcoin as it continues its upward trajectory. The anticipated approval of several spot-based ETFs next year could further stimulate this activity and potentially push Bitcoin’s market value to new heights.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
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© Reuters.
‘s recent rally has seen a surge in both institutional and retail investor activities, with the cryptocurrency stabilizing near $34K after reaching its highest value since May 2022 of over $35K. This marks a significant 107% year-to-date increase, fueled by anticipation around spot exchange-traded funds (ETFs) and a rise in safe haven demand.
Last week, Bitcoin transactions exceeding $100K, typically associated with ‘whale’ investors, reached a year-to-date high of 23,400. This increased activity coincides with the filing of Blackrock (NYSE:)’s ETF application and is believed to have amplified interest in Bitcoin among whales and institutions, according to data from IntoTheBlock.
The Securities and Exchange Commission (SEC) is expected to approve several spot-based ETFs next year. This development could potentially push Bitcoin’s market value to $42K or beyond.
Meanwhile, Deutsche Digital Assets’ data indicates that retail investor activity is also on the rise. The onchain activity index for small entities reached a new annual high of 1.5 last week, suggesting an increased participation from small investors.
This surge in both institutional and retail participation underscores the growing interest in Bitcoin as it continues its upward trajectory. The anticipated approval of several spot-based ETFs next year could further stimulate this activity and potentially push Bitcoin’s market value to new heights.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
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