Bitcoin’s price has been on a steady rise, recently crossing the $69,000 mark and inching closer to the $70,000 milestone. This surge in price activity coincides with increased movement from large BTC investors, as evidenced by on-chain data analysis.
One notable transaction involved a whale who had acquired nearly 4,300 BTC over a decade ago at an average price of less than $30. This investor decided to transfer a portion of their holdings, moving 246 BTC valued at around $17 million based on yesterday’s prices. With an astonishing return on investment of 230,000% since their initial purchase in 2013, this whale’s move has caught the attention of the crypto community.
Furthermore, another whale recently made a significant purchase of nearly 114 BTC, totaling approximately $7.85 million. This investor has been actively buying BTC over the past month, acquiring a total of 1,308 BTC since March 6. The timing of this latest purchase coincided with Bitcoin’s price surge on Sunday, pushing the asset to a 5-day high of $69,800.
Despite the positive momentum, Bitcoin has yet to surpass the $70,000 mark but remains above $69,000. As the crypto market continues to witness notable transactions and price fluctuations, investors and enthusiasts are closely monitoring these developments for insights into the market’s overall health and potential future movements.
