According to a recent report by COINOTAG, Bloomberg’s senior ETF analyst Eric Balchunas has projected that US spot Bitcoin ETF holdings are on track to reach a significant milestone of 1 million BTC by the upcoming Wednesday. This development is set to surpass the holdings attributed to Bitcoin’s mysterious creator, Satoshi Nakamoto, by mid-December. Currently, around 17,000 BTC are being accumulated weekly, highlighting the growing interest and institutional investment in Bitcoin. While the potential for a market correction exists, the overall trajectory appears upward, suggesting that large sell-offs could merely postpone this inevitable passing. Furthermore, should Bitcoin prices maintain their momentum and Donald Trump regain political favor, we may witness a pronounced increase in FOMO (fear of missing out) among investors, potentially driving demand even higher. Remaining attentive to these developments will be crucial for market participants.
Source: https://en.coinotag.com/breakingnews/bitcoin-etf-holdings-set-to-surpass-1-million-as-market-dynamics-shift/