CoinEx Daily: Bitcoin Whales Accumulate as Newcomers Trigger Third Wave of Profit Taking

Daily View

Bitcoin is consolidating with a slight downward trend, trading between $114,000-$120,000, as whales accumulate over four months, per on-chain data. Investor enthusiasm for cryptocurrencies remains strong, driven by substantial inflows into Bitcoin and Ethereum spot ETFs and increasing institutional participation. Supportive macro conditions, including U.S. regulatory advancements like the SEC’s Project Crypto and varied performance in tech and crypto reserve stocks, continue to shape market sentiment.