Bitcoin

As Bitcoin (<a href="https://finbold.com/cryptocurrency/bitcoin/" rel="noopener noreferrer nofollow">BTC</a>) has finally managed to regain the psychological threshold at $30,000, pulling the majority of the <a href="https://finbold.com/category/cryptocurrency-news/" rel="noopener noreferrer nofollow">cryptocurrency market</a> up with it, the <a href="https://finbold.com/guide/bull-market-definition/" rel="noopener noreferrer nofollow">bullish</a> recovery has led to a massive increase in large transactions of the flagship decentralized finance (<a href="https://finbold.com/guide/liquidity-mining-definition/" rel="noopener noreferrer nofollow">DeFi</a>) asset.Specifically, as many as 259 transactions worth over $1 million took place on the <a href="https://finbold.com/topic/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin</a> network just two hours after it hit the $30,626 mark, according to the <a href="https://twitter.com/santimentfeed/status/1671639837496197120" rel="noopener noreferrer nofollow">observations</a> shared in a tweet by <a href="https://finbold.com/topic/blockchain/" rel="noopener noreferrer nofollow">blockchain</a> and <a href="https://finbold.com/guides/cryptocurrency/" rel="noopener noreferrer nofollow">crypto</a> analytics platform <a href="https://finbold.com/guide/best-crypto-data-websites/#Santiment" rel="noopener noreferrer nofollow">Santiment</a> on June 22.As the platform’s team explained and exemplified with <a href="https://finbold.com/guide/chart-patterns/" rel="noopener noreferrer nofollow">chart patterns</a>, the volume of these <a href="https://finbold.com/guide/what-is-hodl/#Whale" rel="noopener noreferrer nofollow">whale</a> transactions had at that time broken a recent record, having “hit their highest hour in over three months,” and that “volume likely needs to continue rising to justify more growth.”<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/7cd6920f4bc545959ea8a31aaaf0c87a.jpg" />Bitcoin whale transactions and volume. Source: <a href="https://twitter.com/santimentfeed/status/1671639837496197120" rel="noopener noreferrer nofollow">Santiment</a><h2 id="header-0">Bitcoin price analysis</h2>Meanwhile, Bitcoin was at press time changing hands at the price of $30,167, which represents an increase of 4.40% in the last 24 hours and a more significant gain of 21.03% across the previous seven days, as it grew by 10.36% on its monthly chart.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/a2d50ae327b6467f8b360f6ba6f7e11f.png" />Bitcoin 7-day price chart. Source: <a href="https://finbold.com/cryptocurrency/bitcoin/" rel="noopener noreferrer nofollow">Finbold</a>Interestingly, <a href="https://finbold.com/guide/cryptocurrency-trading/" rel="noopener noreferrer nofollow">crypto trading</a> expert Michaël van de Poppe had earlier <a href="https://finbold.com/rally-to-38k-on-the-cards-for-bitcoin-leading-expert-insight/" rel="noopener noreferrer nofollow">projected</a> that the maiden <a href="https://finbold.com/cryptocurrencies/" rel="noopener noreferrer nofollow">cryptocurrency</a> could continue to rise and experience a rally toward $38,000, considering it has held above the 200-week exponential <a href="https://finbold.com/guide/moving-average/" rel="noopener noreferrer nofollow">moving average</a> (EMA) and has “bounced firmly from that area.”Thanks to such a massive run, driven by the news of multiple spot <a href="https://finbold.com/guide/what-is-bitcoin-etf/" rel="noopener noreferrer nofollow">Bitcoin exchange-traded fund</a> (<a href="https://finbold.com/guide/exchange-traded-funds-etfs/" rel="noopener noreferrer nofollow">ETF</a>) applications by major companies, the largest digital asset has helped the general crypto sector increase its market capitalization by as much as <a href="https://finbold.com/120-billion-pours-into-crypto-market-cap-in-a-week/" rel="noopener noreferrer nofollow">$120 billion</a> in a single week, as Finbold reported on June 21.Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.Read more cryptocurrency news on <a href="https://finbold.com/category/cryptocurrency-news/?utm_source&#61;CMC&amp;utm_medium&#61;social&amp;utm_campaign&#61;CMC&amp;utm_content&#61;long" rel="noopener noreferrer nofollow">Finbold.com. </a>

Bitcoin whale transactions soar to highest in over 3 months as price exceeds $30k

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