Bitcoin's price surged recently, hitting a five-week high due to positive ETF flows and whale activity. Despite the recent price increase, Bitcoin whales are accumulating the cryptocurrency. Yesterday, Bitcoin reached a five-week high of $67,700, a 10.33% increase from the previous week and a 4% increase from the previous month. Trading volume increased by 37% due to positive ETF flows and new CPI data.

The increased interest in Bitcoin ETFs from major corporations also contributed to the price increase. As a result, fears of sell-offs during the halving period are diminishing. Bitcoin whales are also contributing to the price increase. Recent reports show that Bitcoin whales are buying more of the cryptocurrency despite its recent price increase. A prominent Bitcoin whale, identified by the wallet address "15cHR...cnHxv," bought 255 Bitcoins at an average price of $65,116.

As a result, the whale's total holdings increased to around 23.09K Bitcoins, resulting in a profit of nearly $986 million. Two other significant transactions occurred. The wallet address "33ds4...Q1yCc" transferred 2,400 Bitcoins from the Coinbase exchange. At the same time, an unidentified whale, identified by the wallet address "bc1qv...m4jpf," transferred 770 Bitcoins from Gemini. Currently, Bitcoin is trading at $67,130.69, with a minor increase of 0.01%. Bitcoin's dominance is currently 54.37%, a 0.03% increase from the previous day.

The market is slow today, with a global cryptocurrency market capitalization of $2.43T, a 0.07% decrease from the previous day. According to the daily chart, Bitcoin is currently on an upward trend, with a 9-D EMA of $65,376. The daily RSI is 58, indicating a neutral situation. If the Bitcoin bulls continue, it may reach $68,321 and then $69,094. However, if the bears take over, it may drop to $64,654 and then $59,529. The next few days will be crucial in determining Bitcoin's price trajectory, and investors are eagerly waiting to see if it can break through the $69K resistance level.