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The recent market activity in the crypto world is quite interesting. A leading exchange just acquired 27,371 BTC, followed closely by a compliant platform that bought 22,892 BTC. Several other well-known platforms and major holders also didn't sit idle—Kraken, Insiders, and Bitfinex bought 3,508, 14,188, and 3,000 BTC respectively. In total, this wave of institutional and whale buying amounts to over 6 billion USD worth of BTC.
This concentrated large-scale deployment indeed tends to trigger short-term bullish expectations. From a capital perspective, Bitcoin has attracted quite a few institutional eyes during this period. However, whether this is purely asset allocation or driven by deeper market motives is worth pondering.