In a rapid accumulation event, 75,000 Bitcoin was collected in just 30 minutes, resulting in 166 days’ worth of mining output being absorbed. This contributed to a significant increase in Bitcoin concentration, as the $60-70k price zone now holds 429,000 Bitcoin, reflecting a 43% surge in supply concentration. This activity comes amid declining open interest in Bitcoin futures, which has decreased by 53% since October, indicating reduced speculative activity. The scrutiny surrounding the anticipated regulatory clarity set for March 1 is generating mixed sentiments among traders, with some viewing it as a potential turning point for the cryptocurrency market.
Bitcoin supply concentration surges 43%; 75k BTC absorbed in 30 mins
