While Bitcoin (BTC) and Ethereum (ETH) whales were accumulating in the cryptocurrency market, the price of Litecoin (LTC) rose on ETF expectations.
According to the latest report published by Santiment, large investors turned the uncertainty in the market into an opportunity and continued to accumulate Bitcoin and Ethereum. While investors with wallets of 10 BTC and above were seen to have increased their savings in the last six months, a similar trend was observed in Ethereum whales.
Whales turned crisis into opportunity
The Bitcoin price fell to $94.2,000 after the inflation data was announced, but quickly recovered to $99,000. During this period, whale movements showed their impact on the price. When historical data is examined, it is observed that the price increased in the long term during the periods when whales accumulated.
Litecoin rises on ETF expectations
On the other hand, Litecoin made a quiet but strong debut, gaining 46% between February 2-19. The SEC's evaluation of the spot Litecoin ETF application made by CoinShares increased investors' interest in LTC. The emergence of new ETFs other than Bitcoin and Ethereum in the crypto market may make Litecoin more accessible to institutional investors in the future.
While the moves of large investors in crypto markets continue to determine the price direction, Litecoin's ETF process and the accumulation of Bitcoin whales are among the developments that should be followed carefully in the market.
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