There are just over 300 days until the 2027 Bitcoin halving, and the current institutional deployment momentum is indeed significant.

Leading asset management firms and well-known funds have cumulatively purchased over $25 billion worth of Bitcoin ETFs, and MicroStrategy has even increased its Bitcoin holdings to 150,000 coins. What do these numbers reflect? On-chain data provides an interesting answer — the number of addresses holding more than 1,000 Bitcoins has increased by 42% compared to last year, while retail holdings have dropped from 45% to 28%.

Interestingly, this phenomenon of increasing institutional concentration follows a regular pattern in history. Before each halving, institutions tend to position themselves early, driving Bitcoin to gradually rise. Historical data shows that in the 10 months before a halving, Bitcoin has averaged an 83% increase — a figure that speaks for itself.

For ordinary investors, the strategy at this stage is quite clear: if you want to participate in this wave, using compliant ETFs or dollar-cost averaging with spot purchases is a more rational choice, as high-leverage contracts tend to carry greater risks in such long-cycle markets. Institutions are deploying, retail investors are following, but the right tools must be used.