Bitcoin Whale Activity Counters Institutional Sell-Off, Driving Price Surge

A recent surge in Bitcoin’s price has been attributed to powerful actions by so-called ‘whales’ – large cryptocurrency holders with significant liquidity. These whales have recently purchased a substantial 30,000 BTC worth over $3 billion, effectively offsetting the selling pressure from institutional investors who sold nearly $1.25 billion in Bitcoin over the past 72 hours. This buying activity is significant considering that institutional players collectively hold an astounding $129.62 billion in Bitcoin.