Bitcoin recently experienced its largest surge in transactions exceeding $100,000 in almost two years, with 16,900 large transactions on January 4th. This significant activity is seen as an indicator of whale activity in the Bitcoin market, offering valuable insights into the potential positions of these influential participants.

The increase in large transactions coincides with a period of increased volatility in the crypto market, with Bitcoin recovering from a massive plunge and trading close to $44,000. This milestone comes a day after the 15th anniversary of Bitcoin's first-ever transaction block.

Several industry players have submitted proposals for a spot Bitcoin ETF in the US, which, if approved by the SEC, is expected to open the floodgates to institutional investment and potentially trigger a Bitcoin rally. Analysts project that Bitcoin could reach up to $75,000 if this significant regulatory hurdle is overcome.