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Data on Bitcoin whales further supports bullish momentum. Whale holdings—large addresses holding substantial amounts of Bitcoin—have increased at the fastest rate ever recorded, with a 12% month-over-month growth. This trend was also witnessed during the 2021 bull run, when prices surged from around $36,000 to over $67,000 within weeks.
Moreover, Bitcoin's share of global wealth remains surprisingly small—just 0.2%. Yet, with top billionaires in China, the U.S., and Hong Kong holding significant wealth, accelerated allocation into Bitcoin seems inevitable. As they wake up to its potential, the market could see outsized demand stemming from this concentrated wealth.