The current state of affairs reflects the positive outlook of the market regarding the future price movements of Bitcoin. Furthermore, recent data from Into The Block has indicated a surge in the number of addresses that hold more than 1,000 BTC. This surge is mainly attributed to the introduction of BTC ETFs. While the factors mentioned above, such as the accumulation of large amounts of BTC by whales and the increase in addresses holding substantial quantities of BTC, signify a significant rise in buying pressure for Bitcoin, it is crucial to acknowledge that the short-term prospects for BTC remain uncertain. Experts suggest that the token is currently undergoing a phase of re-accumulation, which could potentially result in greater price volatility.
