Crypto

BTC Rebounds to $67K After Subdued U.S. Economic Data Reading

The number of so-called whales or network entities owning at least 1,000 BTC jumped to 1,678 early this week, reaching the highest since January 2021, according to data tracked by Glassnode and Bitwise. This growing accumulation by large holders, alongside solid uptake for alternative vehicles, especially the U.S.-listed spot ETFs, suggests increasing confidence in bitcoin’s price prospects.

Analysts at CryptoQuant reported that retail investor accumulation has slowed as the cryptocurrency’s price nears $70,000. “Retail holdings have risen by just 1K Bitcoin in the last thirty days, a historically slow pace,” they told CoinDesk.

Carmen Brooke Martin

Finance Analyst Hello, my name is Carmen Brooke Martin and I am an expert finance journalist with a master's degree from New York University in Business and Economics. I'm passionate about helping startups spread the word, discover and promote great projects in the crypto and fintech industry. What I am working on is to provide basic cryptocurrency education and benefits to the crypto community through video tutorials and written content. As a business developer, I help crypto projects structure and create a whitepaper that can stir investors' interest, advice on marketing strategies and promotions.

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