Bitcoin

Grayscale Bitcoin Trust

<p>The post <a href="https://coinpedia.org/news/bitcoin-could-hit-112k-cryptoquant-ceo-drops-insider-info-on-etfs-history-making-trends/">Bitcoin Could Hit $112K! CryptoQuant CEO Drops Insider Info on ETFs &amp; History-Making Trends</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>CryptoQuant CEO Ki Young Ju offered a compelling analysis, suggesting that Bitcoin could experience a remarkable surge to $112,000 this year, primarily driven by inflows from Exchange Traded Funds (ETFs). However, Ju also outlined a worst-case scenario of $55,000, emphasizing the impact of spot ETF inflows on the cryptocurrency market.</p> 
<h2 class="wp-block-heading" id="h-bitcoin-boost-from-etfs">Bitcoin Boost from ETFs</h2> 
<p>In a series of insightful tweets on the X, Ki Young Ju highlights the crucial role of spot ETF inflows, projecting a monthly surge of $9.5 billion. This regular influx holds the power to strengthen Bitcoin’s realized capitalization by an astounding $114 billion annually.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> could reach $112K this year driven by ETF inflows, worst-case $55K.<a href="https://t.co/HrkV3TU8Ul">https://t.co/HrkV3TU8Ul</a> <a href="https://t.co/jBn6HWpt9b">pic.twitter.com/jBn6HWpt9b</a></p>— Ki Young Ju (@ki_young_ju) <a href="https://twitter.com/ki_young_ju/status/1756498625205502301?ref_src=twsrc%5Etfw">February 11, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>Notably, Ju anticipates this steady stream of ETF investments could propel Bitcoin to an impressive $112,000 by year-end.</p> 
<h2 class="wp-block-heading" id="h-resilience-despite-gbtc-outflows">Resilience Despite $GBTC Outflows</h2> 
<p>Even in the face of potential outflows from the Grayscale Bitcoin Trust ($GBTC), Ju remains optimistic. He foresees a notable uptick of $76 billion, potentially raising realized capitalization from the current $451 billion to a range between $527 billion and $565 billion.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> market has seen $9.5B in spot ETF inflows per month, potentially boosting the realized cap by $114B yearly.<br><br>Even with <a href="https://twitter.com/search?q=%24GBTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$GBTC</a> outflows, a $76B rise could elevate the realized cap from $451B to $527-565B. <a href="https://t.co/b7iFCIbGVP">pic.twitter.com/b7iFCIbGVP</a></p>— Ki Young Ju (@ki_young_ju) <a href="https://twitter.com/ki_young_ju/status/1756498627525022052?ref_src=twsrc%5Etfw">February 11, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>An interesting note is the substantial Bitcoin holdings of nearly 50,000 BTC, totaling over $3.19 billion, held by investment giant BlackRock through its ETF.</p> 
<h2 class="wp-block-heading" id="h-historical-mvrv-ratios">Historical MVRV Ratios</h2> 
<p>Further Ju draws on historical data, noting that Bitcoin market bottoms historically occur at an MVRV (Market-Value-to-Realized-Value) ratio of 0.75. In contrast, market tops are <a href="https://coinpedia.org/news/bitcoin-bull-rally-began-analyst-predicts-55k-before-halving/">observed at a ratio of 3.9</a>.</p> 
<h2 class="wp-block-heading" id="h-what-could-happen-next">What Could Happen Next</h2> 
<p>Meanwhile, Ki Young Ju is guessing that because of all this money coming in from ETFs, Bitcoin’s price could go really high—maybe between $104,000 and $112,000. But if we don’t get too excited, it might still go up to a good price, maybe between $55,000 and $59,000.</p> 
<h2 class="wp-block-heading" id="h-bitcoin-targets-52000">Bitcoin Targets $52000</h2> 
<p>Bitcoin’s price is making moves after being stable for seven weeks. The current weekly BTC candlestick shows a gain of 12.58%, and it looks like it will end on a positive note.</p> 
<p>As of now, Bitcoin is being traded <a href="https://markets.coinpedia.org/bitcoin/">at over $48,000</a>, and the amount of Bitcoin being traded in the last 24 hours is increasing, reaching $20.65 billion.</p>

Bitcoin Could Hit $112K! CryptoQuant CEO Drops Insider Info on ETFs & History-Making Trends

Table of Contents

CoinPedia News

Other articles published on Feb 12, 2024

Ethereum Classic Price Prediction: Will ETC Smash $30 Mark?

California Crypto Holders to Influence 2024 Elections

Analyst Backs Bitcoin to $100k Ahead of 2024 Halving, Could Bitcoin Minetrix Also Explode?

MANTRA Price Prediction: OM Dumps 6% As Traders Scramble To Buy Sponge V2 Amid FOMO As Listing Nears

Conflux (CFX) Price Prediction 2025, 2026, 2027, 2028, 2029 and 2030

XRP at Center of Heated Debate, Samson Mow Makes Crucial Bitcoin Statement, Shiba Inu About to Br...

Join our free newsletter for daily crypto updates!