Bitcoin (BTC) has successfully crossed the psychological threshold of $30,000, triggering a bullish recovery that uplifted the entire cryptocurrency market. This resurgence has led to a significant increase in large transactions involving the flagship decentralized finance (DeFi) asset. According to blockchain and crypto analytics platform Santiment, a staggering 259 transactions worth over $1 million occurred on the Bitcoin network within two hours of reaching the $30,626 mark. Santiment's team shared their observations on Twitter, highlighting that these whale transactions had broken a recent record and reached their highest hourly volume in over three months. However, they also noted that for sustained growth, the volume would need to continue rising. At the time of writing, Bitcoin was being traded at $30,167, signifying a 4.40% increase in the past 24 hours and a notable gain of 21.03% over the previous seven days. The digital currency has witnessed a 10.36% growth on its monthly chart. Crypto trading expert Michaël van de Poppe had previously predicted a further rise for Bitcoin, suggesting a rally towards $38,000. Van de Poppe based this projection on the fact that Bitcoin has maintained its position above the 200-week exponential moving average (EMA) and has shown strong resilience in bouncing back from that level. This impressive surge in Bitcoin's value, coupled with the news of several spot Bitcoin exchange-traded fund (ETF) applications by major companies, has contributed to a substantial increase in the overall crypto sector's market capitalization. In just one week, the market cap surged by a staggering $120 billion, as reported by Finbold on June 21. The renewed momentum in Bitcoin's price and the influx of institutional interest in the form of ETF applications have injected optimism into the cryptocurrency market. Investors and traders are closely monitoring Bitcoin's performance, seeking opportunities to capitalize on the ongoing rally. As the volume of whale transactions continues to rise, it remains to be seen whether this bullish trend will persist and drive further growth in the market. In conclusion, Bitcoin's recent surge past $30,000 has triggered a wave of large transactions by whales, indicating renewed confidence in the cryptocurrency. The market as a whole has experienced significant gains, with Bitcoin leading the way in boosting the sector's market capitalization. As the market remains optimistic about Bitcoin's future, it will be interesting to see how this rally unfolds and whether it will pave the way for further growth in the crypto industry.