"Right now it's resting, but maybe the price of BTC will explode again this week?"
Although currently hovering around $66,500, the price of cryptocurrency king Bitcoin (BTC) climbed to $67,665 after a whale bought 1,590 BTC worth a surprising $106.8 million from Binance.
There is no denying that BTC has seen volatile movements due to the halving event last April, but the transaction has left investors optimistic about the most anticipated price hike that may happen soon.
Through observation, the whale who made a large amount of BTC purchases through a series of transactions in the past 24 hours has used an unknown wallet address which is 124BPp9mT...
In addition to showing the positive reaction of the entire crypto market to BTC future price movements, the latest data also shows that addresses that own more than 1,000 BTC have increased immediately after the spot BTC ETF was approved.
Even so, BTC which is currently in the regrouping phase is able to make further price fluctuations even though the buying pressure is increasing due to the gathering of whales and the increase in addresses that hold a large amount of BTC.
This is because Coinglass data shows a 0.31% increase in OI BTC followed by a drop in issued volume of about 27.49%, so here it can be seen that the current price volatility can cause the movement of the digital asset to remain uncertain.
As of this writing, BTC price has plunged by 1.00% to $66,245 in the past 24 hours with a market cap of over $1 trillion but still posted a 7.87% climb over the past week.
