Whales Make Moves in Bitcoin, Ethereum, and Dogecoin Ahead of SEC Decision
The Cryptocurrency Market Awaits SEC Decision on ETF
Investors are eagerly awaiting the Securities and Exchange Commission’s (SEC) decision on whether to approve the country’s first spot (ETF). The decision, expected as early as next week, could have a significant impact on the price and adoption of Bitcoin (BTC), Ethereum (ETH), and other cryptocurrencies.
Whales Make Significant Moves in Cryptocurrencies
While the market waits for the SEC decision, large holders known as whales are making significant moves for major cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), and Dogecoin (DOGE). According to data from a crypto data tracker, whales have made several massive transfers of BTC, ETH, and DOGE in the last 24 hours.
Whale Alert reports multiple massive transactions, including large transfers of ETH and BTC. Additionally, Bitcoin experienced its largest spike in transactions over $100,000 in nearly two years, providing insights into the activity of major players in the crypto market.
Bitcoin ETF Approval Speculations Heighten
Speculation about the approval of a Bitcoin exchange-traded fund (ETF) has reached a boiling point on social media, with some suggesting that the SEC might authorize it as soon as today. However, some analysts believe that the approval might still occur between specific dates in January.
Several issuers, including BlackRock, Valkyrie, ARK Invest/21 Shares, Bitwise, and Fidelity, are bidding for a spot Bitcoin ETF, adding to the anticipation surrounding the SEC decision.
Whales Accumulate or Distribute Assets Based on Outlook
Massive transactions involving DOGE have also been recorded, indicating that whales are either accumulating or distributing their assets based on their outlook and strategy. These movements provide insights into how major players in the crypto market are positioning themselves.
This article was originally published on U.Today
