BTC Whales Buy $5 Billion BTC in 10 Days, Institutional ETF Inflows, and Bitcoin Price Drop and Correction Remain Low

"Whales holding between 10,000 and 100,000 BTC have bought $5 billion worth of BTC in the last 10 days," crypto analyst and trader Ali Martinez told X. For another reason for the price correction, CryptoQuant contributor Cristian Palusci noted, "Despite $160 million in outflows from Grayscale GBTC and Invesco BTCO the day before, there were $3.4 billion in net inflows into all BTC spot ETFs. If we see $300-500 million of net inflows into ETFs on a daily basis, it is unlikely that the price of BTC will fall. This could exacerbate the supply shortage as we approach halving. The only concern is that BTC futures open interest has risen to early 2022 levels. At these levels, deleveraging (liquidation) could occur at any time."

On the other hand, crypto trader and analyst Rekt Capital believes that bitcoin could follow its historical pattern and fall as much as 30% before the April halving. However, he added that bitcoin will rally significantly in the months following the halving event, and that selling before the halving for short-term gains would be very short-sighted.