U.Today – According to a recent tweet posted by cryptocurrency analyst and trader Ali Martinez, immense cryptocurrency holders, known as whales in the cryptocurrency community, have decided to take advantage of the current BTC decline.
Over the last 24 hours, the world’s flagship cryptocurrency fell by 4.20%, falling from $69,920 to $66,980. However, the subsequent rebound resulted in a gain of 1.70%. As of this writing, digital gold is changing hands at $68,180 on the Bitstamp exchange.
It was when Bitcoin dropped below the $67,000 level that the whales decided to buy the dip and scooped up as much as 20,000 BTC. This leading digital currency is estimated to be worth a staggering $1.34 billion.
Bitcoin’s price decline coincided with the Securities and Exchange Commission’s approval of spot ETFs on Thursday. These Ethereum-listed funds were approved half a year later after the spot issuance of Bitcoin ETFs (they got the green lithe from the regulator in January).
However, experts believe that the demand for Ethereum ETFs on the spot will not be as great as for the Bitcoin exchange-traded product.
