Bitcoin wallets with more than 1000 bitcoins surge

in #crypto3 months ago

This is the ETF effect. 77 new wallets with balances of over 1000 Bitcoin have been added in the last 2 weeks alone. Here's the graph:


source

The SEC approved ETFs on 10th Jan 2023 (a month ago), but it coincided with Grayscale selling bitcoins as it's investors pulled their money out due to high fees.

That caused a temporary dip in the bitcoin price, and as you can see from the graph, Wall Street moved in to fill their boots.

All we need now is an altcoin ETF to exert similar buying pressure in the altcoin space, and we're good!