Ether ETFs Posed as a Challenge to Bitcoin as Whales Continue to Accumulate What Lies Ahead for BTC

During the period of BTC price stability, there has been a notable decline in the number of transfers from personal wallets to cryptocurrency exchanges. This trend indicates that major holders, known as whales, are amassing Bitcoin. Between April 18 and May 31, there was a substantial decrease in the quantity of wallets moving Bitcoin to exchanges, plummeting from 70,999 to 32,450. This shift suggests that whales are acquiring and retaining their BTC, potentially limiting the amount of circulating supply for trading and leading to decreased market volatility.