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<p><a href="https://coinpedia.org/news/bitcoin-price-today-rallies-above-73k-is-84k-within-reach/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin is soaring</a> and is just about to break through its all-time highs, currently just short of 1% of its peaks seen earlier in 2024. The big question is: how much higher could we go, and who exactly is buying so much Bitcoin right now?</p>
<p>Let's dig deep and arrive at the answers. Read on.</p>
<h2 class="wp-block-heading" id="h-top-bitcoin-holders-revealed">Top Bitcoin Holders Revealed</h2>
<p>Satoshi Nakamoto remains the largest Bitcoin holder globally, while Binance, Grayscale, MicroStrategy, and the U.S. government follow closely behind. However, Bloomberg ETF analyst Eric Balchunas recently pointed out in a tweet that <a href="https://coinpedia.org/news/bitcoin-etfs-recored-a-massive-870-million-inflows-led-by-blackrock-is-80000-next/" target="_blank" rel="noopener noreferrer nofollow">U.S. spot ETFs</a> are expected to reach a total of 1 million Bitcoin by next Wednesday, surpassing Satoshi’s holdings by mid-December—well before the ETFs reach their one-year anniversary.</p>
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<p>Currently, these ETFs are adding around 17,000 BTC weekly.</p>
<h2 class="wp-block-heading" id="h-demand-outpaces-supply">Demand Outpaces Supply</h2>
<p>In just the last week, ETFs have acquired 15,194 BTC, while only 3,150 BTC were mined, signaling an increasing demand-supply gap. Crypto analyst Miles Deutscher highlighted that while Bitcoin was at $71,000 in March, the Coinbase app store ranking was 20. Now, with BTC back at $71,000, Coinbase’s ranking has dropped to 482, indicating that retail investors have yet to fully return. “It's scary how much higher we're going,” Deutscher commented.</p>
<p>He also shared that BTC spot ETF inflows are “going parabolic,” with $3.8 billion in inflows over just 17 days.</p>
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<p>Adding to the bullish outlook, BlackRock CEO Larry Fink predicts at least one more 25 basis-point rate cut by year’s end, potentially sparking further growth in the crypto market.</p> [post_titles_links postid="374141"] 
<h2 class="wp-block-heading" id="h-bitcoin-s-growing-dominance">Bitcoin's Growing Dominance</h2>
<p>While Bitcoin <a href="https://coinpedia.org/news/crypto-price-today-oct-30th-2024-bitcoin-profit-taking-curbs-ath-hopes/" target="_blank" rel="noopener noreferrer nofollow">dominates the market </a>with its rising price, altcoins are not experiencing the same momentum. Bitcoin’s market dominance has now exceeded 60%, and if historical patterns hold, a potential altcoin season may unfold in 2025, similar to the drop from 73% to 39% Bitcoin dominance in 2021.</p>
<p><strong>With Bitcoin leading the way, 2024 promises to be a defining year for the crypto market. Stay tuned for more updates.</strong></p>

Bitcoin Dominance Breaks Records, But What About Altcoins?

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