While retail traders sell their assets, institutions accumulate more $BTC as Purpose ETF increases its holdings by 32%
purchased by ETF since November remains at approximately 32,329 BTC. Such a large buying volume was most likely followed by the accumulation initiated by large wallets. After every Bitcoin dip, the on-chain activity suggested that large buying power appeared on the market despite the negative price action.
Orders were most likely placed in advance to allow the chance to receive Bitcoin at a significant discount as it quite often bounces after every volatile movement.The increased buying rates of Bitcoin have been caused by a significant drop in the value of the first cryptocurrency. Since November, it lost 44% of its value and has failed to recover at least a half of it.
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