Data shows: institutional investors advancing to boost the recent bitcoin price increase

There are data indicating that or institutional investors helped the price of Bitcoin briefly surged to around $ 7,300 on April 2. Data from the data and analysis platform IntoTheBlock shows that the number of large bitcoin transactions (transactions worth more than $ 100,000) soared from a low of $ 3.1 billion on March 29 to a high of $ 5.55 billion on April 2. This indicates that large buyers are buying Bitcoin. At the same time, the surge in CME Group's futures trading volume also indicates that institutional investors have entered the market. The cryptocurrency platform BitMEX's open positions have declined during this period, which also shows that retail investors are not the factors that contributed to the surge in Bitcoin prices. In the medium term, this may indicate that large investors in the crypto market are accumulating bitcoin, and they may expect bitcoin to rise further in the medium and long term.