A man named Matt Hougan, who works as a big boss of a company called Bitwise, says that many rich people are thinking about putting some of their money into bitcoin, which is a type of digital money. He thinks they want to put around 3% of their money in bitcoin because there are new ways to buy and sell it safely. This means if bitcoin disappears or loses value, the rich people will not lose too much money. Read from source...

1. The title is misleading and sensationalized, implying that the wealth market as a whole is eyeing a 3% allocation to Bitcoin, when in reality it is based on informal discussions with professional investors who may not represent the entire market.
2. Hougan's claim of "3% is the new 1%" is not backed by any data or evidence, and seems to be an attempt to create a trend where there might not be one.
3. The article focuses on the recent launch of U.S. spot Bitcoin ETFs as the main reason for the shift in allocations, but fails to consider other factors that may have influenced investors' decisions, such as changing market conditions, regulatory changes, or technological innovation.
4. Hougan's argument that de-risking bitcoin's downside makes a higher allocation more attractive is flawed, as it ignores the potential upside and volatility of Bitcoin, which may not be suitable for all investors.

Positive

Explanation: The article discusses how wealth market is eyeing a 3% allocation to Bitcoin, as per the Bitwise CIO. This indicates an increased interest and demand for Bitcoin among professional investors, which can be seen as a bullish sign for the cryptocurrency's price and adoption. The launch of U.S. spot Bitcoin ETFs is mentioned as a factor that de-risks bitcoin's downside, making it more attractive to institutional investors. Therefore, the sentiment of the article is positive.