The main digital currency continues to move confidently within the framework of the global bullish trend. Today's trading brought bitcoin to a new absolute record at $72,300. According to most experts, this rapid growth is due to the constant demand for industrial ETFs, which were approved by the SEC in January.

According to analytical data from Dune, spot funds currently control more than 4% of the bitcoin market supply. If this trend continues, ETFs can absorb about 8.7% of the BTC supply annually. It is also known that last week spot funds accumulated approximately 33,000 coins, which at the current exchange rate is about $2.3 billion.

Bitwise researchers also commented on this situation. They predict that by the summer, more and more large institutional companies will be interested in spot ETFs, which contributes to an increase in demand and, as a result, the price of the main digital coin. Cryptocurrency whales continue to hold assets, despite the fact that bitcoin has confidently exceeded the previous absolute maximum.

As of March 9, the number of addresses with a balance of 1,000 coins or more exceeded 2,100. This is still below the record high of the beginning of 2021, which was 2,489 addresses.

At that time, the main digital coin was trading above $46,000.

Of course, spot ETFs provide significant support for BTC. However, it should be remembered that the halving of the flagship crypto asset will take place next month. This raises expectations among market participants and contributes to a significant increase in volatility. Currently, BTC is trying to gain a foothold above the $71,000 level. If this succeeds, further growth is likely to follow.