Bitcoin Transactions Spike to $25 Billion, Marking a Yearly High

On May 28th, the total value of Bitcoin transactions reached over $25 billion, setting a yearly high. While the number of daily transactions was average, the increase in transaction value was due to the higher price of Bitcoin.

Highlights:

• Over 367,000 BTC (worth $25.5 billion) were moved on May 28th, a notable increase in value compared to June 13th, 2022, when 519,000 BTC were moved, then worth $14 billion.
• Despite the high transaction value, the number of transactions was relatively normal, with 596,790 transactions recorded.
• Trading analyst Peter Brandt predicts that Bitcoin could reach $130,000 by 2025, based on patterns from previous post-halving cycles and the asset's historical bull market duration.