worldcoinindex.com
Bitcoin (BTC) has been relatively stagnant in recent weeks, but in a fresh development, the world’s largest cryptocurrency saw a significant surge. Over the last 24 hours, BTC jumped from $64,900 to a high of $67,692, before settling at $67,221.43, reflecting a daily rise of nearly 3%. Along with this, Bitcoin's network volume spiked by over 20%, reaching $49.10 billion. This sudden price action puts BTC just 8.9% away from its all-time high of $73,750.07, achieved seven months ago.
One factor possibly contributing to Bitcoin's rise is Tesla’s notable activity in the BTC market. For the first time in two years, Elon Musk’s company transferred all of its $760 million worth of Bitcoin from its public wallet. According to Arkham Intelligence, Tesla carried out several transactions, with the most significant transfers involving $75.18 million, $76.08 million, and $77.16 million in Bitcoin. These transactions occurred rapidly, with two sent to an anonymous wallet and one directed to a different unidentified address.
Tesla’s transactions didn’t end there. The company continued to move its Bitcoin holdings, including sending $102.36 million in one go. At the close of these operations, Arkham reported that Tesla only had $8.08 worth of BTC left in its account. Despite the massive shuffle, Elon Musk has stayed silent about the purpose behind these movements, leaving the crypto community speculating on Tesla’s next move.
Bitcoin’s upward momentum and Tesla’s stealthy BTC transfers add a layer of intrigue to the market, as the king of cryptocurrencies edges closer to its historical peak.