Large Bitcoin Transactions Hit Yearly High, Fueling Speculation of Growing Institutional Adoption

Daily Bitcoin transactions exceeding $100k peaked at about 23,400 on October 24, indicating growing institutional interest.

These large transactions were last seen in June around when BlackRock filed for a Bitcoin ETF.

Experts predict Bitcoin's price could surge post SEC approval of a spot Bitcoin ETF, with some forecasts as high as $125k by 2024.

The number of large Bitcoin transactions now is a yearly high but remains far below the 2017 all-time high of over 345,000.

Many expect increased institutional adoption is fueling Bitcoin's latest bull run, which commenced on June 22.