The continuous improvement of Bitcoin holders' Fomo attributes and active management motivation will drive Bitcoin from a passive asset to an active asset, providing soil for the development of BTCFi.

Institutional holdings continue to increase. According to market data, there are currently 47 companies holding $141.342 billion BTC, accounting for 7.7% of the total BTC circulation. This trend continues to accelerate after the BTC ETF was passed. Since the beginning of the year, BTC spot ETH has brought a net inflow of nearly 17,000 BTC. Compared with early miners and coin hoarders, institutions are more sensitive to capital utilization efficiency and return rate. They not only have a higher tendency to participate, but are also likely to become active promoters of BTCfi.

The rise of inscriptions and BTC ecology has made the composition of the BTC community more complicated. Traditional BTC holders pay more attention to security and put it in a higher priority position. New members have a higher interest in new narratives and new assets.