The current state of affairs indicates the market’s hopeful perspective on the future price fluctuations of Bitcoin. Furthermore, recent statistics from Into The Block have brought attention to a rise in the number of addresses that hold more than 1,000 BTC. This increase is primarily attributed to the introduction of BTC ETFs. While the aforementioned factors, such as the accumulation of large amounts of Bitcoin by influential investors and the surge in addresses with substantial BTC holdings, demonstrate a significant surge in buying pressure for the cryptocurrency, it is crucial to acknowledge that the short-term outlook for BTC remains uncertain. Experts suggest that the token is currently in a phase of re-accumulation, which could potentially result in heightened price volatility.
