Whales are preparing to buy more Bitcoin.. Increase in realized market value Bitcoin has seen a huge rise in 2024, raising questions about the driving forces behind this great rise. The realized market value of the currency has risen from $430 billion in January to an unprecedented $730 billion. Bitcoin has also crossed the $100,000 barrier for the first time in its history, but some analysts believe that this rise may be driven by plans by institutions and large whales to push the public into trading in order to strengthen their control over the market and increase their holdings of Bitcoin.

The role of institutions in boosting the price of Bitcoin

Data from the CryptoQuant platform indicates that Bitcoin’s growth is being driven by increasing adoption from institutions. The launch of spot Bitcoin exchange-traded funds (ETFs) in the United States this year provided a regulated entry point for institutional and individual investors alike, attracting large investments exceeding one million Bitcoin.

On-chain data shows that large investors, including institutions and whales, increased their net holdings by 275,000 BTC in 2024 alone, bringing total holdings to a record 16.4 million BTC. These activities may be part of a price manipulation strategy to lure smaller investors into the market.