As Bitcoin has been rising from $40,000 and touching $44,250, investors are accumulating as much BTC as fast as they can
Data provided by Glassnode analytics aggregator shows that since late February this year, accumulation of the flagship cryptocurrency has been going parabolic.
The chart was shared by head of investment fund Lex Moskovski on his Twitter page.
— Lex Moskovski 🐙 (@mskvsk) March 1, 2022
Bitcoin rises to $44,250, adding almost 9%
After the leading digital currency went up 7.30% on Monday, printing two big green hourly candles and rising over $40,000, BTC has gained another 8.50%, touching a high of $44,232.
Since then, it has rolled back a little and has been trading in the $43,390 range.
On Monday, Feb. 28, Glassnode also announced that the majority of Bitcoin address cohorts have been accumulating the safe haven crypto asset en masse.
Smaller investors have been most aggressive in acquiring Bitcoin.
Biggest Bitcoin ETF in Canada grabs more BTC
As covered by U.Today earlier, the largest crypto ETF in Canada, Purpose Bitcoin ETF, bought more of the flagship crypto before the current rise.
The fund has increased its BTC holdings by 31%, adding 7,700 Bitcoin since the end of the fall 2021. At the moment, Purpose Bitcoin ETF owns 32,329 BTC. This amount of the king crypto is worth $1,307,658 at the time of writing.
As the crypto market led by Bitcoin and Ethereum began to recover, old-school trader John Bollinger has posted a bullish tweet, saying that he is positive about the further rise of BTC and ETH.