Large entities’ total bitcoin (BTC) holdings have grown to a level last seen in July 2022 due to their unwavering accumulation of the digital asset. Analysts said large investors expanding their holdings correlate with BTC’s higher prices as they indicate increasing demand for investment purposes. Some large entities accumulating BTC are the new spot Bitcoin exchange-traded funds (ETFs) They have become a primary demand source for the leading digital asset, holding approximately 300,000 BTC at the time of writing.
Source: Mandy Williams, 2024-02-25; https://cryptopotato.com/large-bitcoin-investors-persist-in-accumulation-as-short-term-holders-begin-to-sell-cryptoquant/