⭐This Bitcoin's Bull Run Cycle is Creating Millionaires at a Surprising Slower Rate, New Data Reveals! 🤑💵

Bitcoin, the apex cryptocurrency, has surged a whopping 70% this year, smashing through $72,000 in value. This rally, driven by Wall Street's adoption of spot exchange-traded funds (ETFs), is creating millionaires, though not as rapidly as during the last surge in 2020-2021.

Data from Kaiko shows that fewer than 2,000 new millionaire wallets (those holding $1 million or more in bitcoin) are popping up daily, a stark contrast to the previous bull run where over 4,000 such wallets were minted every day, including 2,000 with balances exceeding $10 million.

The slower growth rate of millionaires suggests that the current bull run might just be getting started, with more potential upside to come. Experts predict bitcoin prices could soar to $150,000 and beyond in the coming months, driven by ongoing investments in spot ETFs and the upcoming supply reduction caused by halving.

Kaiko suggests a few reasons for the sluggish growth in millionaire wallets: new capital hasn't fully flooded in yet, big players are cashing out profits as bitcoin hits new highs, and wealthy investors are choosing custodians over personal wallets to store their holdings.

Recent market movements also indicate a buildup of sell orders near record highs, with the gap between buy and sell orders widening considerably. This suggests investors are eager to cash in as prices peak, hinting at potential short-term profit-taking strategies.
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