According to a recent tweet posted by analyst and trader Ali Martinez,Bitcoin holder Big names in the cryptocurrency community decided to take advantage of the decline in the price of Bitcoin to buy.
Over the past 24 hours, Bitcoin has fallen by 4.20%, falling from $69,920 to $66,980, however, it has not rebounded 1.70%. At the time of writing, Bitcoin is priced at $68,180 on Bitstamp.
With Bitcoin falling below $67,000, bettors decided to “buy the dip” and bought 20,000 Bitcoin, worth a whopping $1.34 billion.
This is believed to be a buy during a short period of correction and may be an optimistic view in the minds of bettors that the price of Bitcoin may rise further.
Bitcoin's price decline coincided with the US Securities and Exchange Commission's (SEC) approval of Ethereum ETFs on Thursday, and the Ethereum ETFs were approved half a year after the Bitcoin spot ETF got the green light from the SEC in January. .
However, experts believe that the demand for Ethereum Spot ETFs will not be as large as Bitcoin ETFs.
source: Yo today
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