After a recent 10% correction, Bitcoin has rebounded, climbing back to the $63,000 mark as it attempts to reclaim the critical Short-Term Holder cost basis.

This resurgence comes as the broader crypto market stabilizes following a period of volatility.

Meanwhile, MicroStrategy’s stock has surged to $196, just 2% away from its all-time high.

Often behaving like a leveraged version of Bitcoin in bullish phases, MicroStrategy’s stock has seen incredible growth since it began acquiring Bitcoin on August 11, 2020. Since then, the stock has skyrocketed by 1,208%, while Bitcoin itself has risen 445% over the same period.

In the Bitcoin market, a significant shift is underway among major investors, often referred to as whales. New whale entrants have collectively invested $108 billion, while older whales have a combined investment of $113 billion.

The ratio between new and old whales now stands at 48:51, but the realized capital of new whales is expected to surpass that of the older whales soon, signaling a generational shift in whale dominance.

Bitcoin Spot ETFs Recorded Notable Net Inflow Of $235 Million 

October 7 also saw notable inflows into Bitcoin spot ETFs, with a total net inflow of $235 million. Fidelity’s ETF, FBTC, recorded an inflow of $104 million, while BlackRock’s IBIT ETF saw $97.88 million in inflows. These large-scale investments further underscore the ongoing institutional interest in Bitcoin as market dynamics evolve.

As Bitcoin’s price and whale activity continue to fluctuate, the market remains in a state of anticipation for the next major movement in the world’s largest cryptocurrency.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any stocks.

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