Bitcoin

Spot

<img width="1260" height="710" src="https://coingape.com/wp-content/uploads/2023/11/Bitcoin-ETF-2.jpg" class="attachment-full size-full wp-post-image" alt="Bitcoin Spot ETF" decoding="async" style="float:right; margin:0 0 10px 10px;" srcset="https://coingape.com/wp-content/uploads/2023/11/Bitcoin-ETF-2.jpg 1260w, https://coingape.com/wp-content/uploads/2023/11/Bitcoin-ETF-2-300x169.jpg 300w, https://coingape.com/wp-content/uploads/2023/11/Bitcoin-ETF-2-1224x690.jpg 1224w, https://coingape.com/wp-content/uploads/2023/11/Bitcoin-ETF-2-768x433.jpg 768w, https://coingape.com/wp-content/uploads/2023/11/Bitcoin-ETF-2-678x381.jpg 678w, https://coingape.com/wp-content/uploads/2023/11/Bitcoin-ETF-2-150x85.jpg 150w" sizes="(max-width: 1260px) 100vw, 1260px">
In a recent analysis, CoinShares’ Head of Research, James Butterfill, explores the potential impact of a Bitcoin Spot ETF in the US on BTC price. Using fund flow data, Butterfill said on the X platform that <a href="https://coingape.com/glossary/bitcoin/" target="_blank" rel="noopener">Bitcoin</a> may hit $81,000, sparking speculations among the crypto market enthusiasts. 
The speculations over <a href="https://coingape.com/education/bitcoin-spot-etf/" target="_blank" rel="noopener">Bitcoin Spot ETF</a> approval have been witnessed in the market, triggering a rally in the broader digital asset space. Several market pundits anticipate that the approval of the same would inject billions of dollars into the BTC market. So, let’s take a look at how much inflow could trigger a significant rally in the BTC price in the coming days. 
<h2 id="james-butterfill-s-analysis-using-fund-flows-data">James Butterfill’s Analysis Using Fund Flows Data</h2> 
In a recent <a rel="nofollow" href="https://blog.coinshares.com/us-bitcoin-etf-launch-price-impact-d94d4ad02d93" target="_blank">blog</a>, Coinshares’ James Butterfill explores the intricate relationship between Bitcoin prices and Exchange-Traded Products (ETP) fund flows. Notably, drawing from historical data, Butterfill highlights the coexistence of rising prices and increased inflows, suggesting a momentum-driven approach among ETP investors. In addition, the analysis spots times of market struggle, affecting ETP trading based on sentiment. 
Meanwhile, utilizing a quantitative approach, Butterfill introduces a predictive model correlating 45-day price changes and weekly flows as a percentage of AuM. The model suggests a potential surge to $141,000 per Bitcoin with an estimated $14.4 billion in inflows. 
However, the analyst acknowledges the difficulty in precisely gauging future inflows, presenting a matrix of varied inflow scenarios and their potential impact on Bitcoin prices. Meanwhile, as the prospect of a Bitcoin Spot ETF in the U.S. looms, Butterfill said on the X platform that a $2.5 billion inflow could drive BTC prices to $54,000, while a $6.2 billion inflow might push prices up to $81,000 while using fund flows data. 
Also Read: <a href="https://coingape.com/binance-to-remove-xrp-eth-ada-matic-sol-and-15-other-crypto-in-rub-pairs/" target="_blank" rel="noopener">Binance To Remove XRP, ETH, ADA, MATIC, SOL And 15 Other Crypto In RUB Pairs</a> 
<h2 id="bitcoin-price-performance">Bitcoin Price &amp; Performance</h2> 
The <a href="https://coingape.com/price/bitcoin/" target="_blank" rel="noopener">Bitcoin price</a> was down 1.21% over the last 24 hours and traded at $36,467.12 during writing on November 17. The decline in the recent BTC price comes amid a sell-off in the broader market, following <a href="https://coingape.com/blackrock-files-for-spot-ethereum-etf-eth-price-to-rally/" target="_blank" rel="noopener">BlackRock’s official filing</a> for Spot Ethereum ETF with the SEC on Thursday. 
Meanwhile, the trading volume of the largest crypto by market cap also slumped 12.68% to $25.07 billion at the same time. However, the Bitcoin price has added over 29% over the last seven days, reflecting the bullish sentiment in the market towards the risk-bet assets. 
Notably, recognizing the potential diversification benefits and enhanced sharpe ratios a Bitcoin ETF could offer, Butterfill notes the slow-burning challenges of regulatory approval and corporate acceptance. The perceived complexity of Bitcoin could result in a gradual process of corporations and funds building knowledge and confidence before entering the market. 
Considering that, Butterfill anticipates a significant wall of demand once a spot-based ETF is launched but also emphasizes the gradual nature of corporate and fund involvement. The potential for a surge in Bitcoin prices remains contingent on overcoming regulatory hurdles and dispelling the perceived complexity surrounding Bitcoin as an investment asset. 
Also Read: <a href="https://coingape.com/international-securities-regulator-iosco-finalized-policies-for-crypto-regulation/" target="_blank" rel="noopener">International Securities Regulator IOSCO Finalized Policies For Crypto Regulation</a> 
The post <a rel="nofollow" href="https://coingape.com/coinshares-analyst-predicts-btc-hitting-81000-amid-bitcoin-spot-etf-speculations/">CoinShares Analyst Predicts BTC Hitting $81,000 Amid Bitcoin Spot ETF Speculations</a> appeared first on <a rel="nofollow" href="https://coingape.com">CoinGape</a>.

CoinShares Analyst Predicts BTC Hitting $81,000 Amid Bitcoin Spot ETF Speculations

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