Bitcoin's correction deepened as BTC price fell to $65,000, and altcoins were hit with double-digit losses.
Bitcoin (BTC) dipped to new lows at $65,000 on April 12, indicating that the bears have not yet given up. However, that has not deterred the Bitcoin whales from continuing their purchase, with the Bitcoin halving less than eight days away.
According to crypto analytics firm CryptoQuant, demand from the Bitcoin whales has surpassed the supply of new Bitcoin for the “first time in history.” Increasing demand from the whales and inflows into the Bitcoin-exchange-traded funds could push Bitcoin higher.
VanEck CEO Jan van Eck said in an interview with Cointelegraph that 90% of the inflows into the Bitcoin ETFs came from retail. He anticipates institutional investments from banks and traditional firms to start trickling in from next month.
