On-chain data provider Santiment recently tweeted that there is a probability that Bitcoin will continue to grow in price this month, and that altcoins may follow. This is made feasible by the requirement for major cryptocurrency holders to continue purchasing the leading virtual currency, BTC.
Crypto whales and sharks keep accumulating BTC
The Santiment team stated in a tweet that cryptocurrency whales and sharks have amassed a “big chunk” of Bitcoin over the previous two weeks as word of the Bitcoin ETF refilings spearheaded by Fidelity spread. According to Santiment, they have jointly purchased 154,500 BTC over the last seven weeks.
Wallets holding between 10 and 10,000 BTC now possess 13 million Bitcoins, or 67% of the available supply. Only 21 million BTC can be retrieved, and more than 19 million have been mined as of this writing.
According to cryptocurrency tracker Whale Alert, anonymous wallets transferred around 21,700 BTC from the Coinbase exchange to cold wallets five hours ago. It involved two Bitcoin transactions with respective values of $314,678,605 and $345,262,395 dollars.
SEC calls Bitcoin ETF filings “inadequate”
The Wall Street Journal reports that the U.S. securities regulator referred to the latest filings concerning spot Bitcoin ETFs as “inadequate,” meaning that they lacked clarity and thoroughness.
The SEC has thus closely examined the most recent disclosures from BlackRock, Fidelity, and other financial firms.
On the basis of such news, the price of bitcoin decreased little, falling 1.07% during the previous 24 hours.
