Bitcoin Whales Buy $1.34 Billion In BTC In One Day – Is Return To $70,000 Imminent?

Following rumors of a potential Ethereum spot exchange-traded fund (ETF) approval, the Bitcoin price made a run at its current all-time high of $73,737. While the momentum was not sufficient to push the premier cryptocurrency to a new record price, BTC still managed to cross the $70,000 level for the first time in over a month.

Bitcoin’s price soon experienced a correction and currently sits below $70,000 despite the SEC’s eventual approval of the ETH ETF. However, the latest on-chain revelation suggests that the BTC price might resume its upward movement sooner rather than later.