As we reported last night, this is turning into a great week for crypto traders. Bitcoin broke above $60K on Friday and hit a daily high of around $60,650. With a small correction, the BTC price is now trading exactly around $60K.
LookOnChain just reported that a crypto whale bought another 1,062 BTC ($63.96M) 25 minutes ago! The whale currently holds 10,043 BTC ($603.84M).
The cryptocurrency market is known for its rapid shifts in momentum, and right now, the sentiment is decidedly bullish. This sudden surge in positive market sentiment can be attributed to several factors, creating a perfect storm for Bitcoin’s price pumps.
It looks like MicroStrategy’s $1.1 billion Bitcoin purchase yesterday sparked positive momentum, along with other factors such as high trading Bitcoin ETF volume. These events have contributed to renewed confidence among investors and traders, pushing the price of Bitcoin to levels not seen in recent months.
Read also: Why Is Bittensor (TAO) Price Up? Analyst Predicts Rally to $3-5K Range
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