Bitcoin whales, referring to large investors, have bought an estimated $3 billion worth of BTC in just one day, illustrating a significant transformation in the crypto market. This surge in whale activity, as reported by CryptoQuant CEO Ki Young Ju, could mark the start of a new phase for cryptocurrencies.

Whales Actively Acquiring Bitcoin

Ki Young Ju shared with his social media audience that Bitcoin whales have made substantial purchases of tens of thousands of BTC in a short period. The notable accumulation by these major investors may suggest a noteworthy shift in the overall landscape of the crypto market.

Excluded Association with Bitcoin ETFs

Despite the authorization of Bitcoin exchange-traded funds (ETFs) by the SEC earlier this year, Ki Young Ju clarified that the recent uptick in whale activity involving Bitcoin is not connected to ETF approval. This development showcases a unique trend in the crypto space.