This paper analyzes the first six months of the Baltic Balancing Capacity Market (BBCM) operation following the successful desynchronization of the Baltic power system from the and synchronization with Continental Europe. The market operation is assessed by contrasting its results with the Finnish capacity market which is deemed to be comparable. The analysis focuses on reserve price evolution, market dynamics, and the interaction with reserve unit varied participation. Findings highlight that Frequency Containment Reserve prices showed a correlation with imbalance prices, both automatic and manual Frequency Restoration Reserve auctions initially experienced price volatility before stabilizing and gradually declining, reserve unit effects included hydro generation seasonality, and planned outages of major units. The analysis demonstrates that BBCM was able to successfully weather the adverse conditions that a new market may encounter.