Bitcoin’s value has experienced a significant surge of nearly 25% in the last month. This remarkable increase can be attributed to the prevailing bullish sentiment in the market and the anticipation surrounding the potential approval of bitcoin exchange-traded funds (ETFs) by the U.S. Securities and Exchange Commission (SEC). The rise in value, accompanied by a growing number of addresses, solidifies Bitcoin’s position as a prominent asset class.
The positive atmosphere surrounding the potential greenlighting of these ETFs has sparked heightened trading activities among large-scale bitcoin investors, often referred to as “whales.” These investors are eagerly awaiting the approval of these funds, as it could open up more regulated investment avenues and potentially attract even more participants to the market.
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