BTC Cools to $109K Amid ETF Slowdown, Hyper Whales Invest $117K
After a notable surge past $117,000 earlier this month, Bitcoin ($BTC) has entered a cooling phase, settling around $109,000. This recent dip can be attributed to a combination of factors, including long-term holders exercising caution and realizing profits, alongside a noticeable deceleration in Bitcoin Exchange-Traded Fund (ETF) purchases. However, this market movement is not necessarily a cause for alarm. Data from Glassnode suggests that the current downturn appears to be more of a healthy market correction or a pause, rather than an indication of the end of the current cycle. Should key support levels hold and demand for Bitcoin ETFs rebound, there is a strong possibility that $BTC could not only recover but also emerge stronger. In anticipation of such a scenario, the utility of Bitcoin Hyper becomes increasingly relevant. Its forthcoming Layer-2 (L2) network is designed to significantly enhance the Bitcoin network's speed and reduce transaction costs, especially during period…
