Bitcoin ETFs Flows Could Propel BTC Prices to $112K This Year: CryptoQuant
Bitcoin prices could top out at the $112,000 level if current buying pressure from ETFs continues.
The “worse case” scenario is at least $55,000, which is still a nearly 15% rise from current levels.
Bitcoin prices could touch $112,000 this year if the current trend of inflows related to spot exchange-traded funds (ETFs) continues, on-chain data provider CryptoQuant said Sunday
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CEO Ki Young Ju said on X the “worse case” for bitcoin was at least $55,000, or a nearly 15% bump from Monday’s prices. The targets were made based on the effect of inflows on bitcoin’s market capitalization and a metric ratio that has historically indicated if prices were “overvalued” or “undervalued.”
The funds have only been on the market for less than one month but have already attracted billions of dollars from investors looking to gain exposure to bitcoin without having to buy and store it directly.