Santiment, a reputable blockchain analysis firm, took to Twitter yesterday to announce a monumental event in the cryptocurrency world. A staggering $1 billion Bitcoin (BTC) transaction was initiated, marking the largest on-chain transaction of the year. This news is a testament to digital currencies’ growing influence and significance in the global financial landscape.
The tweet succinctly reported that the transaction’s destination boasted a staggering 143,310 BTC in October of the previous year, which was depleted entirely in November. However, it has now resurfaced with a still-impressive 40,141 BTC in its possession.
Earlier today, a seasoned crypto trader, Altcoin Sherpa, took to Twitter to share some promising news. According to Sherpa, BTC is poised to establish a bullish 1D EMA trend, which has not been witnessed in the market since November 2021. This development is certainly worth keeping an eye on for those invested in the world of cryptocurrency.
The trader expressed a positive outlook, stating that BTC could achieve a 1D close above $25K today, a feat not seen since June 2022. In the event of this occurrence, the trader predicted a potential surge toward $30K.
As of the latest update, the foremost player in the cryptocurrency market is currently valued at $26,186.52, having witnessed a notable surge of 6.37% in the past 24 hours. This impressive growth has further bolstered the crypto’s already commanding weekly performance, with a total gain of 31.45%, as reported by CoinMarketCap.
The total market capitalization of BTC is estimated to be approximately $504.785 billion. The recent surge in BTC’s market cap has propelled its dominance to 44.88%, marking a 0.68% rise in the past 24 hours.
Over the past 24 hours, BTC has demonstrated a notable 1.82% increase in value against Ethereum (ETH), the top altcoin in the market. Presently, 1 BTC is equivalent to 15.13 ETH. Furthermore, BTC is trading closer to its 24-hour peak of $26,234.39, while its daily low is $24,462.06.
