Large investors, known as 'whales,' purchased over $1.34 billion worth of Bitcoin in a single day.

This purchase briefly pushed Bitcoin's price past $70,000 before it settled below $69,000.

The surge follows a recent dip to $67,000.

Institutional investors have also increased their investments, with nearly $800 million flowing into Spot Bitcoin ETFs.

While whales are buying, retail investors are selling, creating a dominant selling sentiment in the market.

Despite the recent price increase, there are indicators of a potential market top and bearish signals suggesting a possible price correction.

Analysts predict Bitcoin could return to all-time high prices, with current trading around $69,216 and speculation on surpassing $73,794.

Bitget, a major cryptocurrency exchange, plays a crucial role in the market, offering innovative tools and services to over 20 million users in more than 100 countries.

The recent whale activity and market dynamics indicate a positive outlook for Bitcoin, with potential to return to $70,000, making it an appealing investment opportunity.