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Bitcoin’s price has rebounded to over $67,000, fueled by significant outflows from centralized exchanges and aggressive buying by large-scale investors, according to IntoTheBlock data. After a brief dip in value following a $581 million net outflow from exchanges, the cryptocurrency’s ecosystem witnessed a surge in whale transactions, with over $100 billion in large-scale Bitcoin transfers this past week.
The market dynamics shifted as Bitcoin whales began accumulating again, adding a net of 165.5 BTC to their holdings, reflecting a renewed confidence among major holders. This uptick in activity coincides with a broader market sentiment of fear of missing out (FOMO), which could potentially drive prices higher.
Adding to the bullish momentum, U.S. spot BTC exchange-traded funds, including BlackRock’s iShares Bitcoin Trust ETF, saw substantial inflows of $192.4 million on a single day, marking a significant turn in investor interest towards Bitcoin. This recent financial maneuvering underscores the growing mainstream acceptance and investment in cryptocurrency.
