A Bitcoin whale recently transferred $9.6 billion worth of Bitcoin, raising concerns about a potential market correction among crypto analysts. The transfer comes amidst the passage of the GENIUS Act by the US Senate, which imposes audit requirements on stablecoins. This has led to speculation that the whale may be selling due to fears linked to regulatory changes. Financial analyst Jacob King argued that the act could destabilize Bitcoin's value, suggesting it is propped up by artificially created funds. Meanwhile, some analysts remain optimistic, highlighting that the act provides legal recognition and compliance pathways for stablecoins. Despite the concerns, many long-term Bitcoin investors are reportedly unfazed by regulations, focusing more on realizing substantial profits from their investments. The sentiment surrounding the market appears somewhat bullish, although indicators reflect caution among some investors anticipating a market pullback. Additionally, US spot Bitcoin ETFs have seen a significant influx of over $522 million in investments recently, suggesting ongoing interest in the cryptocurrency market.

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