According to analysts’ estimates, BTC’s market capitalization reaches $17.5 billion. Experts note that whales managing accounts from 1,000 BTC to 10,000 BTC own 1.24% of the total active supply since January.

The participation of institutional investors helps to reduce volatility in the cryptocurrency market. In addition, these players actively supported the growth of bitcoin prices before its latest halving. Experts say that this will significantly affect the further dynamics of prices for the asset.

Many traders are experiencing fear of missing out on a profitable opportunity (FOMO). Specialists from Santiment note that many expect the bitcoin price to return to $70,000. Currently, the bitcoin rate on the market is around $62,400.

CryptoQuant CEO Ki Young Ju points out that the investment volumes of new whales in Bitcoin are almost twice as large as the old major players. The expert categorizes whale addresses not affiliated with cryptocurrency exchanges (CEX) and miners with a more than 1,000 BTC balance. This category includes owners of coins in circulation for less than 155 days, while older coins exceed this period.

The main factors driving the influx of new whales are the launch of spot-ETFs in the US cryptocurrency market and halving in April, which reduced BTC issuance.