Bitcoin's price rally continues as the asset rose to over $69,000 and almost reached the $70,000 mark just a few hours ago.
According to on-chain data, this price fluctuation is due to increasing activity from large BTC investors.
BTCUSD. Source: TradingView
The initial whale movement was observed by several on-chain data providers such as Lookonchain and Whale Alert. The sources informed that a Bitcoin investor who amassed a sizable stash of nearly 4,300 BTC a decade ago at an average price of less than $30 decided to transfer a small portion.
Interestingly, this was the anonymous whale's first Bitcoin transfer (at least for this wallet) in just over ten years. They moved 246 BTC, which was worth almost $17 million at yesterday's prices.
Given their average purchase price of $29.39 in 2013, this whale's ROI since then is a staggering 230,000%.
Lookonchain also outlined the purchase of another whale. This one came just a few hours ago and cost almost 114 BTC ($7.85 million). This investor has been on a buying spree over the past month, purchasing 1,308 BTC since March 6th.
Their latest purchase came amid BTC’s price increase early Sunday. As reported yesterday, the asset had settled at around $67,000 but continued to gradually rise throughout the day. The biggest gains came today as Bitcoin rose to a 5-day high of $69,800.
Nevertheless, the cryptocurrency has not managed to overcome the coveted $70,000 mark, at least for now, but is still above the $69,000 mark.
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