Institutions keep the Bitcoin bull market on track

As the institutional investment narrative continues to play out, on-chain metrics show that the continued accumulation of BTC in major addresses is still ongoing, increasing 9% in the last 30 days alone. This was slightly offset by the drop in 10-100 BTC addresses, suggesting that smaller “whales” found the chance to take profits too good to miss.

The year started with a sharp increase in volatility and trading volume. BTC hit a new all-time high of $ 41,941 before falling back below $ 32,000. The annualized volatility reached 97%, a high that has not been reached since April 2020.