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Bitcoin

<p class="is-style-lead">The price of Bitcoin (<a href="https://crypto.news/price/bitcoin/" target="_blank" rel="noreferrer noopener">BTC</a>) could reach $112,000 as early as 2024, according to CryptoQuant.</p> 
<p>CryptoQuant CEO Ki Young Ju believes the current trend of inflows related to spot exchange-traded funds (ETFs) will continue. He said the “worst case scenario” for Bitcoin would be at least $55,000, or almost 15% higher than prices on Monday, Feb. 12. The targets were set based on the impact of inflows on Bitcoin’s market capitalization and a metric ratio that historically indicated whether prices were “overvalued” or “undervalued.”</p> 
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   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#Bitcoin</a> could reach $112K this year driven by ETF inflows, worst-case $55K.<a href="https://t.co/HrkV3TU8Ul" target="_blank">https://t.co/HrkV3TU8Ul</a> <a href="https://t.co/jBn6HWpt9b" target="_blank">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" target="_blank" rel="noopener">February 11, 2024</a>
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<p>At the same time, the BTC market has seen an influx of spot ETFs of $9.5 billion per month, potentially increasing the realized limit by $114 billion, Ki Young Ju pointed out.</p> 
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 <p>“Even with $GBTC outflows, a $76B rise could elevate the realized cap from $451B to $527-565B.”</p> <cite>Ki Young Ju, CryptoQuant CEO</cite>
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<p>The CryptoQuant CEO also noted that the ratio tracking Bitcoin’s market capitalization to realized capitalization potentially marks a top for Bitcoin between $104,000 and $112,000. At these prices, the ratio would reach 3.9, a level that has&nbsp;historically marked price tops.</p> 
<p>Just a month after launch, the nine leading spot Bitcoin exchange-traded funds (<a href="https://crypto.news/tag/etf/">ETFs</a>) <a href="https://twitter.com/VetleLunde/status/1755876912205857016" target="_blank" rel="noreferrer noopener">have surpassed</a> 200,000 BTC, or $9.5 billion in assets. The nine Bitcoin ETFs include <a href="https://crypto.news/tag/BlackRock/" target="_blank" rel="noreferrer noopener">BlackRock</a> (IBIT), <a href="https://crypto.news/tag/Fidelity/" target="_blank" rel="noreferrer noopener">Fidelity</a> (FBTC), <a href="https://crypto.news/tag/Bitwise/" target="_blank" rel="noreferrer noopener">Bitwise</a> (BITB), Ark 21Shares (ARKB), Invesco (BTCO), <a href="https://crypto.news/tag/VanEck/" target="_blank" rel="noreferrer noopener">VanEck</a> (HODL), <a href="https://crypto.news/tag/Valkyrie/" target="_blank" rel="noreferrer noopener">Valkyrie</a> (BRRR), Franklin Templeton (EZBC) and WisdomTree (BTCW). They own almost 1% of 21 million Bitcoins, more than MicroStrategy, <a href="https://crypto.news/tag/Tether/" target="_blank" rel="noreferrer noopener">Tether</a>, and all public Bitcoin miners combined.</p> 
<p> You might also like: <a href="https://crypto.news/valkyrie-predicts-fewer-bitcoin-etf-issuers-year-end/"> Valkyrie exec predicts fewer Bitcoin ETF issuers by year-end </a> </p>

Bitcoin ETFs flows could bring BTC to $112k price, CryptoQuant suggests

crypto.news

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