Bitcoin Soars Above $68,000 as Whales Resume Buying

Bitcoin (BTC) has regained its footing above $68,000 for the first time since June as large holders resume buying. This comes after a decline of around 50% from its October record price of $126,200.

Data from CryptoQuant shows that large investors have accumulated about 43,000 tokens over the past 60 days, worth approximately $2.75 billion at current prices.

BlackRock has maintained its investment thesis for Bitcoin despite the decline and expects the cryptocurrency's correlation with traditional risk assets to decrease as speculative excess is removed from the market.