Bitcoin (BTC) has rebounded above the $70,000 threshold following an 11-day tumble marked by significant price volatility.

In the last 24 hours, BTC has surged by 5.4%, currently trading at $70,500. The leading cryptocurrency's market capitalization sits slightly above $1.38 trillion, accompanied by a daily trading volume of $42.7 billion.

CoinGecko data reveals that Bitcoin's price surge has injected bullish momentum into the global crypto market capitalization, which has increased by 5.4% to around $2.83 trillion.

According to data sourced from Santiment, whale transactions involving at least $100,000 worth of BTC have spiked by 50.7% over the past 24 hours, climbing from 8,233 to 12,404 unique transactions per day.

Additionally, Bitcoin's total open interest (OI) has experienced an $800 million upswing. Santiment data indicates that BTC's total OI has surged from $11 billion to $11.8 billion within the last day.

Heightened price volatility typically accompanies sudden increases in whale activity and open interest.

Meanwhile, data suggests a rise in trades speculating on a further BTC price surge. Santiment reports that the total BTC funding rate aggregated from all exchanges has increased from 0.01% to 0.02%.

This indicates trader optimism regarding a potential BTC price surge as the fourth Bitcoin halving approaches.

According to a report, "Rich Dad, Poor Dad" author Robert Kiyosaki predicts that the BTC price could surpass the $100,000 mark by September of this year. Kiyosaki also stated his intention to acquire 10 more Bitcoins before April.

Interestingly, despite the overheated market conditions, the Bitcoin Relative Strength Index (RSI) has been consistently declining over the past three weeks.

Santiment data reveals that the BTC RSI dropped from 49 to 47 in the last 24 hours. This indicator suggests that Bitcoin is in a favorable condition for a potential price surge.