According to ChainCatcher, the on-chain analysis platform CryptoQuant pointed out in its latest weekly report: "Large investors are pouring about $1 billion into Bitcoin, which is comparable to the situation before Bitcoin rose from $10,000 to $70,000 in 2020. Back in 2020, Bitcoin hovered around $10,000 for 6 months, with high on-chain activity, and was later disclosed as over-the-counter transactions." It further explained: "Now, despite smaller price fluctuations, on-chain activity remains high, with new whale wallets increasing their holdings by $1 billion a day, which may be a form of institutional investors entering custodial wallets to buy Bitcoin."