Crypto

Bitcoin Holds Steady at $78,000 Amid Institutional Demand and Whale Activity

Guavy AI Editorial Team Published August 26, 2026

Instruments

BTC

Bitcoin's recent rally has been fueled by renewed institutional demand and increased activity among large Bitcoin holders, known as whales.

The cryptocurrency's price is currently trading around $78,000 and struggling to extend its recovery beyond the $80,000 level.

BlackRock's Bitcoin ETF, IBIT, has attracted interest from whales through in-kind swaps, with Bloomberg Senior ETF Analyst Eric Balchunas reporting that BlackRock has processed about $5 billion in Bitcoin-to-ETF swaps.

This mechanism allows eligible Bitcoin holders to defer recognition of capital gains rather than selling their Bitcoin for cash before purchasing ETF shares.

The Wire

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