As BTC price heads to $70k Bitcoin whales invest $700b

As Bitcoin’s price grazed the $64,000 milestone on Feb. 28, market indicators indicate an imminent rally to new all-time highs above $70,000.

Bitcoin (BTC) grabbed headlines again on Feb. 28, as prices surged to a daily timeframe peak of $64,000, its highest in 830 days. With whale investment metrics still flashing green signals, a new all-time high could be on the cards for the pioneer cryptocurrency.

Bitcoin whales in firm control: Holding 60% of the total supply
The Bitcoin ETF approval was undoubtedly a real watershed moment for the crypto sector. At press time on Feb. 28, the overall market capitalization of the crypto industry has skyrocketed by $450 billion to reach a three-year peak of $2.25 trillion.

The boom in the crypto sector inflows was led by record-breaking demand by 10 newly-launched Bitcoin ETFs, who have jointly acquired over 665,850 BTC, around $40 billion, in less than six weeks of trading.