Bitcoin (BTC) price has once again gained bullish momentum, surpassing the $70,000 level, but whale activity around the asset has decreased.
BTC is up 2.2% and is trading at around $71,000 at the time of writing. The market capitalization of this flagship asset is approaching $1.4 trillion, and currently stands at $1.398 trillion.
Furthermore, Bitcoin's daily trading volume increased by 5% and hovered around $37.5 billion at the time of reporting.
The upward momentum came after Bitcoin fell below the $68,000 level as U.S. inflation hit 3.5% year-over-year, higher than expected at 3.4%.
According to data provided by Santiment, the number of whale transactions consisting of at least $100,000 worth of BTC has consistently decreased over the past four days, from 14,261 settlements on April 8 to 24 in the past 24 days. That dropped to 10,182 unique transactions in hours.
According to Santiment data, the number of daily active addresses has also decreased along with BTC whale activity, dropping from 898,850 addresses to 866,140 active wallets in the past 24 hours.
Meanwhile, the BTC Relative Strength Index (RSI) rose from 48 to 54 in the past day, according to Santiment data. This indicator shows that Bitcoin is slightly overheated but still in good shape.
If the RSI is above 60, it indicates that Bitcoin is overbought and price volatility may be high.
