Bitcoin investors holding between 10 to 10,000 BTC bought ahead of the rally, according to data from the on-chain analytics firm Santiment. The “BTC Supply Distribution” metric shows that these large BTC holders scooped up a significant amount of the asset before the news of Grayscale’s win against the US Securities and Exchange Commission (SEC) broke out.The “social volume” metric, which measures the degree of discussion the asset receives across the major social media platforms, also registered a huge spike when the news broke out. This spike was similar to the one observed during the crash earlier in the month, however, the moves of the large holders had occurred in advance of the rally.The Bitcoin price surged towards $28,000 during the rally, but has since observed a pullback towards the $27,100 level. Nonetheless, BTC investors are still up 3% since the surge started.

This News Article was automatically generated by Bob the Bot (AI)

Information	Details
Geography	Global
Countries
Sentiment	positive
Relevance Score	8
People	None
Companies	Unsplash.com, TradingView, Grayscale, Santiment, US Securities and Exchange Commission (SEC)
Currencies	Ethereum, Bitcoin
Securities	None