Whales' Big Bet: $1.5 Billion in Bitcoin Stash Fuels $70,000 Price Target

Bitcoin whales have been quietly accumulating their stash in recent months, and new data suggests they may be eyeing a price target of $70,000.

A report found that the number of addresses holding at least 10,000 BTC has reached an all-time high of 90, surpassing its previous peak six months ago.

The whales have been accumulating big time since July 29, with large wallets holding between 10 and 10,000 BTC amassing approximately $1.5 billion worth of Bitcoin.

However, the news isn't all positive for Bitcoin investors. A recent five-day entry period for US spot ETFs saw a net outflow of $144.6 million in Bitcoin.