Woofun AI data shows that Bitcoin's capital efficiency has declined significantly across bull market cycles. While $2.8 billion drove a 55,000% rise in 2011, $697 billion since 2022 yielded only 689%. Doubling the price now requires approximately $101 billion, compared to $5 million in 2011.

CryptoQuant founder Ki Young Ju stated that Bitcoin must evolve into a core macro asset to attract over $1 trillion in new funds for the next parabolic phase. This outlook contrasts with recent record outflows from U.S. spot Bitcoin ETFs and retail withdrawal trends.