Roughly 10% of bitcoin's supply has been acquired above $60k

The ETF effect.

Institutions are coming in at higher and higher prices.

That is great news.

They will be holding out for a double from here, or even more.

Here is where they have been buying:

(Source: https://twitter.com/smeet_bhatt/status/1777048771785814384/photo/1)

They bought at $60k and above.

That means once we break new highs we should have a fast move to about $120k before we start seeing them taking some profits.