Larger investors appear to be powering a recovery in bitcoin prices, as the sway of smaller individual traders over cryptocurrency markets wanes.

Based on end-of-day trading prices, bitcoin has rallied about 51% from a nadir hit in November, after the collapse of the crypto exchange FTX, according to Dow Jones Market Data. It was quoted late 2 February at about $23,600, and drifted slightly lower in early trading on 3 February.