The chief executive officer at BTC-focused company Jan3, Samson Mow, has highlighted the importance of keeping an eye on a crucial Bitcoin indicator. He noted that many short-term holders are currently selling off their BTC in response to recent market changes, distinguishing them as weak-handed individuals. Meanwhile, long-term hodlers, known as diamond-handed holders, are continuing to accumulate Bitcoin. Mow encourages monitoring this key indicator to gauge the market sentiment.

In addition, Mow drew a parallel between Bitcoin exchange-traded funds (ETFs) and the character Neo from the movie "The Matrix." He shared a scene from the film where Neo defeats Agent Smith by merging with him, likening this to ETFs integrating into the traditional financial system. While Mow refrained from making explicit predictions, his optimistic tweets suggest that he envisions Bitcoin disrupting the legacy financial system and potentially replacing the US dollar in the future.

Moreover, Mow has repeatedly expressed his belief that Bitcoin will eventually reach a price of $1 million. He attributes this impending milestone to the demand shock caused by Bitcoin ETFs, which acquired 12 times more BTC than what miners produce daily upon their launch. Coupled with the upcoming Bitcoin halving event, which will create a supply shock, Mow anticipates a significant price surge in the future. Despite the growing popularity of Bitcoin ETFs, Grayscale's GBTC has experienced substantial outflows.