Bitcoin

Momentum

<ul>
 <li>Bitcoin surges, hitting five-week high amidst positive ETF flows.</li>
 <li>Whale activity indicates accumulation despite recent price surge..</li>
</ul>
Bitcoin bulls made a comeback this week, surprising many investors after facing downward movements since the start of the month. Yesterday, BTC hit a five-week high of $67,700. In the past week, it surged 10.33%, and on a monthly timeline, it increased by 4%. The trading volume is up by 37%.
Positive ETF flows and new CPI data triggered the Bitcoin price surge. Additionally, new interest from big firms in various Bitcoin <a href="https://thenewscrypto.com/spot-bitcoin-etfs-thrives-back-as-may-inflows-offset-april-outflows/" target="_blank" rel="noopener noreferrer nofollow">ETFs</a> has been a contributing factor. Fears around sell-offs during the halving period are losing strength.
Whale activity has also played a part. Recent reports highlight notable activity among Bitcoin whales, indicating a surge in accumulation despite the cryptocurrency’s recent price increase. A&nbsp; prominent Bitcoin whale identified by the wallet address “15cHR…cnHxv” acquired 255 Bitcoin at an average price of approximately $65,116.
With this recent accumulation, the total holdings of the whale surged to around 23.09K Bitcoin, equating to an estimated profit of nearly $986 million.
In addition, there were two other significant transactions. Wallet address “33ds4…Q1yCc,” moved a substantial amount of 2,400 Bitcoin from the Coinbase exchange. Simultaneously, an unidentified whale, marked by the wallet address “bc1qv…m4jpf,” transferred 770 Bitcoins from <a href="https://www.gemini.com/india" target="_blank" rel="noopener noreferrer nofollow">Gemini</a>.
Meanwhile, currently, Bitcoin is <a href="https://thenewscrypto.com/peter-schiff-calls-bitcoin-dead-highlights-silvers-outperformance/" target="_blank" rel="noopener noreferrer nofollow">trading</a> at $67,130.69 with a minor surge of 0.01%. Bitcoin’s dominance is currently 54.37%, an increase of 0.03% over the day. The market seems very slow today, with the global crypto market cap at $2.43T, a 0.07% decrease over the last day.
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh7-us.googleusercontent.com/oHqbJ1_hiUpD_zAN-4DI2D1HUTw_VujqojpJX1ODcyUPCe67ICIe2FTCYTuggPC8ujQ4eEPNOgaDsS8FzVMoWLWBIXk7dIort9BvdHPu2P1EtoPNwUHo-wI9JGdqN1q9MuCOfDdEj_Ujnu08MX3VtIc" alt="">
 <figcaption class="wp-element-caption">BTC Price Chart, source: TradingView
 </figcaption>
 </figure>
</div>
<h3 class="wp-block-heading" id="h-will-bitcoin-hit-69k">Will Bitcoin Hit $69K?</h3>
The daily <a href="https://in.tradingview.com/chart/EJXIwxE9/?symbol=BINANCE%3ABTCUSDT" target="_blank" rel="noopener noreferrer nofollow">chart</a> reveals that Bitcoin is currently on a bullish trend, with the 9-D EMA at $65,376. The daily RSI is at 58, indicating a neutral situation.
If the Bitcoin bulls continue their run, it might reach $68,321 and a next step as $69094. However, if the bears take over, it might drop to $64,654, and on the lower support level, $59,529.
Highlighted Crypto News Today:&nbsp;
<a href="https://thenewscrypto.com/peter-schiff-calls-bitcoin-dead-highlights-silvers-outperformance/" target="_blank" rel="noopener noreferrer nofollow">Peter Schiff Calls Bitcoin ‘Dead’, Highlights Silver’s Outperformance</a>

Can Bitcoin’s Bullish Momentum Break Through $69K?

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