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 <p class="paragraph">With the cryptocurrency community eagerly waiting to see if the United States Securities and Exchange Commission (SEC) will finally approve the first spot Bitcoin (BTC) exchange-traded fund (ETF), the maiden crypto asset is witnessing a massive <a rel="dofollow" title="spike" href="https://thebittimes.com/tag/spike.html">spike</a> in <a rel="dofollow" title="whale" href="https://thebittimes.com/tag/whale.html">whale</a> <a rel="dofollow" title="transactions" href="https://thebittimes.com/tag/transactions.html">transactions</a>.</p> 
 <p class="paragraph">Specifically, in the 24 hours before press time, Bitcoin has experienced its greatest increase in transactions amounting to over $100,000 in almost two years, according to the observations by a prominent crypto market expert Ali Martinez, shared in an X post on January 5.</p> 
 <p class="paragraph">Indeed, Martinez’s chart shows that there were 16,900 <a rel="dofollow" title="transactions" href="https://thebittimes.com/tag/transactions.html">transactions</a> of over $100,000 worth of Bitcoin on January 4, and, as the professional crypto trader pointed out, these <a rel="dofollow" title="transactions" href="https://thebittimes.com/tag/transactions.html">transactions</a> “serve as a proxy for BTC <a rel="dofollow" title="whale" href="https://thebittimes.com/tag/whale.html">whale</a> activity, offering insights into how these major players might be positioned in the crypto market.”</p> 
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  <img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://lh7-us.googleusercontent.com/1WBL5RVsbqHIuu_NHc-6fkEA5-5-mLpxnRByHwVVut-7zJsJwXpK1r0FhRoW6gh1UOdsoca_5l7TxtOQbUr17XTdMYc2N4iLlYLPoY3QtWcBNBN30-rc0puQT94iQPAz-QqQfHG6s_lj9r29_G-3HOo" alt>
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   <em>Bitcoin large transactions. Source: </em><em>Ali Martinez</em>
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 <p class="paragraph">It is also worth noting that Martinez earlier noted that as many as 2.41 million crypto wallets had in their possession a total of over 1 million BTC purchased at the minimum price of $41,800, which formed a substantial support zone and supported Bitcoin’s bullish outlook as long as it stayed above it.</p> 
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  <img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://lh7-us.googleusercontent.com/nHcqTX9ZqeVfEf2KnHRy0AQgBp6u6bOFF_f-CYu4_bKqpuXpKa_BO6zx0nTbYnW3VVIJ8IlxNGDI1zCKwlOR55LL6MhTRIpcsd7XCIAMfDiFYZZg_Q1WqPcgz4HoVs9tZvF3oxcgA1kwyQrl3eUdA3I" alt>
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   <em>Bitcoin holders in/out of money at price. Source: </em><em>Ali Martinez</em>
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 <h2 class="wp-block-heading" id="h-bitcoin-price-analysis">Bitcoin price analysis</h2> 
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 <p class="paragraph">Meanwhile, Bitcoin is currently changing hands at the price of $43,797, which represents an increase of 1.34% in the last 24 hours and a 2.14% gain across the previous seven days. At the same time, on its monthly chart, it has recorded a modest decline of 0.09%, as per the latest data.</p> 
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  <img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://lh7-us.googleusercontent.com/fTSPp79W8DWLdHxhBCfKT9m4CmDbtaFfMwWZD81hsUQC81uzqDDqFqG_P3lPzjoP_HMD2tOGJAXpBoJIKvrx11yj5WEqa5tn91S2yDKBwqof3lfkezFHi-rk11LKOO2_E5PxTwb6EdZ7rN-BwO-J9xY" alt>
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   <em>Bitcoin 7-day price chart. Source: </em><em>Finbold</em>
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 <p class="paragraph">It is also worth noting that pseudonymous crypto analyst <em>PlanB </em>earlier shared his predictions of Bitcoin starting its bull run toward $50,000 at its next halving, soaring to $100,000 by the end of 2024, and hitting as high as $500,000 in 2025, as Finbold reported.</p> 
 <p class="paragraph">All things considered, the possibility of Bitcoin’s first spot exchange-traded fund approval any day now and the upcoming halving event in April are both strong factors that may have influenced a strong uptick in whale transactions, and could, at the same time, push its price higher.</p> 
 <p class="paragraph"><strong><em>Disclaimer:</em></strong><em> The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p> 
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<p>Source: <a rel="dofollow" target="_blank" href="https://thebittimes.com/bitcoin-whale-transactions-over-100k-spike-to-2-year-high-tbt75747.html">https://thebittimes.com/bitcoin-whale-transactions-over-100k-spike-to-2-year-high-tbt75747.html</a></p>

Bitcoin whale transactions over $100k spike to 2-year high

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