According to CoinMeta, Bitwise's Chief Investment Officer Matt Hougan expects Bitcoin to see a significant rise by the end of the year. He stated that bad news no longer affects the market, and sellers have disappeared, which marks the bottom of the market. Hougan pointed out that institutional investment in Bitcoin continues to grow, and according to the traditional 1% portfolio allocation framework, the proportion of Bitcoin allocated by institutions has risen to 4% to 5%. Data from the blockchain analysis platform Santiment shows that the number of wallets holding at least 10,000 Bitcoins has rebounded to a six-month high, with 90 wallets currently holding at least 10,000 Bitcoins, representing a net increase of six wallets over the past eight weeks, or a growth rate of 7.1%. Meanwhile, smaller wallets have lost their share of the Bitcoin supply in August. Crypto trader Donalt believes that Bitcoin may be approaching a major upward move, suggesting that only a small push is needed to break through the current resistance. However, senior trader Peter Brandt is more cautious; if forced to bet, he would opt for a downward trend, noting that a potential head-and-shoulders top pattern has formed.