Bitcoin price has shown a whopping uptrend since last month, leading to breaking the $37.5K mark. The upsurge could be seen floating more due to speculation about a spot bitcoin ETF approval. Right after BlackRock’s spot Bitcoin ETF filing, the industry has seen a large number of applications submitted to the US Securities and Exchange Commission (SEC) for ETF approval.
While none approved yet, the FOMO traveled across the market and resulted in Bitcoin’s network activity going berserk within just a couple of months. The current Bitcoin price movement is evident that whales are not alone moving the market.
Tons of Small Wallets Fueling Bitcoin Price
Whales have always been classified as manipulators to alter Bitcoin price fluctuations. However, the network has recorded multiple shrimp wallets to contribute to the Bitcoin price hike.
On-chain analytics platform Santiment’s data reveals a notable influx of new, smaller wallets (shrimps) containing less than 1 BTC. The surge in thes
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