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> 
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   <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>
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<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> 
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   <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>
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<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

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