- Bitcoin recorded $44.03B in daily transaction volume on June 2—the highest since December 2024.
- The three largest BTC transfers in the past month all occurred on June 1–2, totaling over $25.8B.
- Increased whale activity coincided with Bitcoin’s attempt to break above the $107K resistance level.
The network of Bitcoin recorded its six-month high in the volume of transactions on the 2nd of June, and $44.03 billion was exchanged within a day. This spike occurred concurrently with price resistance at $107,000, as Bitcoin temporarily attempted to recover before dropping off. Market data shows that the increased network activity is closely aligned with a retracement in the broader crypto market.
The timing of these developments suggests heightened investor engagement and possibly large-scale movement of funds. Over the span of just 48 hours, Bitcoin’s largest on-chain transfers of the past month took place, adding pressure to market sentiment during a key price battle.
Whale Transfers Spike Near Key Price Range
On June 1 and 2, three substantial Bitcoin transfers occurred, all involving large volumes of BTC. Some of these were a BTC transfer worth $14.11 billion, a transfer worth $9.41 billion and a transfer worth $2.36 billion. These transactions ranked as the largest seen on the Bitcoin network in over a month. Notably, they all took place within a narrow time frame, overlapping with the network’s single-day volume peak.
This concentration of high-value transactions indicates sharp polarization among holders. Several blockchain observers noted that these movements may have intensified volatility as Bitcoin hovered near its local resistance. At the time, Bitcoin’s price was fluctuating between $105,888 and $100,783. Market participants appeared divided between accumulation and profit-taking strategies.
June Volume Surge Follows Weeks of Market Calm
The $44.03 billion transaction total recorded on June 2 marks the most significant daily volume since December 9, 2024. This level of activity had not been seen for nearly half a year. Previous volume peaks were typically followed by sharp corrections or price plateaus, raising concerns among traders tracking historical behavior.
Throughout May, transaction activity remained relatively moderate. However, the sudden shift at the start of June brought renewed attention to blockchain metrics. These movements came as Bitcoin attempted to reclaim its $107,000 level before pulling back. The asset now trades at $103,180, representing a 1.3% drop in the last 24 hours.
Whale Activity Aligned With Local Price Resistance
While price action attempted to move above the $107,000 level, whale activity reached its highest concentration in recent memory. These top three transactions were not only significant in size but also closely aligned with the timing of Bitcoin’s price hesitation. This correlation added weight to the retrace narrative observed across the broader digital asset market.
As Bitcoin remains within a tight trading range, activity from large holders continues to influence momentum. The most notable developments over the past month suggest that June began with heightened network stress and transactional urgency.
