What Institutions and Whales Are Buying for the Next Crypto Bull Run: BTC, GOAT, PEPU
Institutions Buy Bitcoin: How High Can BTC Go?
Institutions are extremely bullish on Bitcoin, with spot Bitcoin ETFs recording strong inflows. BlackRock, in particular, is contributing to the strong buying pressure on BTC, with its IBIT ETF recording over $1.5 billion in inflows over the past 6 trading days. While several spot BTC ETFs saw outflows on October 21st, BlackRock added a massive $329 million to its tally.
BlackRock's Significant Investments
The IBIT spot ETF now holds over $23 billion worth of Bitcoin while Fidelity has $10.3 billion worth of BTC of its own. BlackRock's bullish stance isn’t surprising as the firm recently published a Bitcoin whitepaper, highlighting BTC as a unique diversifier and a safe haven asset during turbulent times.
Whale Activity: GOAT and PEPU
Whales are increasingly stacking new meme coins like GOAT and PEPU, seeking outsized returns as the market prepares for the anticipated bull run. Experts are optimistic about Bitcoin's future performance, with predictions of a potential price surge to new highs.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.