The number of large bitcoin holders, known as whales, is increasing, potentially indicating a rally to record highs for the cryptocurrency. Data from Glassnode and Bitwise shows that the number of whales owning at least 1,000 BTC reached the highest level since January 2021. This growing accumulation by large holders, coupled with strong uptake of alternative vehicles like U.S.-listed spot ETFs, suggests growing confidence in bitcoin's price prospects. In contrast, retail investor accumulation has slowed. The price of bitcoin is currently around $67,000, just shy of a new record above $73,800. Some analysts believe rising Treasury yields will not hamper risk assets for long and predict BTC could reach $80,000 and $100,000 in the coming months.



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