The approval of theOne such metric indicated that whales increased their accumulation as prices soared to all-time highs. How profitable have their holdings been over the past few months?revealed a significant increase following the approval of the spot ETF in January.Source: Santiment
This suggested that the approval of the spot ETF spurred increased activity among whales, with more of these addresses accumulating additional BTC.The assets accumulated by these whales in the months following the ETF approval have proven profitable. Analysis of theSubsequently, the MVRV surged to over 35% in March before experiencing a significant decline.
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