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Sujit Kumar
Feb 12, 2024
by Sujit Kumar

Bitcoin Price Surge: Potential All-Time High of $112,000 Predicted Amid ETF Inflows

Bitcoin Price Surge:

Table of contents

  1. Key Points:
  2. Recent ETF Inflows Impact:

Amid significant inflows into spot Bitcoin exchange-traded funds (ETFs), Bitcoin's price could soar to an all-time high of $112,000, according to a recent analysis by CryptoQuant. The report explores the impact of ETF investments on Bitcoin's realized cap and delves into historical market patterns, providing insights into potential price scenarios.

Key Points:

  • Influential ETF Inflows: CryptoQuant's founder and CEO, Ki Young Ju, highlights the substantial monthly spot ETF inflows, totaling $9.5 billion, potentially elevating Bitcoin's realized cap by $114 billion annually. Despite outflows from the Grayscale Bitcoin Trust (GBTC), the report suggests a potential rise in the realized cap from $451 billion to $527-565 billion.

  • MVRV Ratio Analysis: Ju introduces the Market Value to Realized Value (MVRV) ratio as a crucial metric, historically aligning market bottoms with an MVRV ratio of 0.75 and peaks with a ratio of 3.9. The report suggests that if ETF inflows persist, the MVRV ratio may reach levels indicating a market peak, projecting Bitcoin's price to reach between $104,000 and $112,000.

  • Alternative Scenario: Without intensified market hype and with the MVRV ratio at 2.07, the report anticipates a more conservative price range for Bitcoin, oscillating between $55,000 and $59,000.

    • Recent ETF Inflows Impact:

    The analysis references recent market activity, showcasing the tangible influence of ETF inflows on Bitcoin's current price of $48,129—12.57% higher than a week ago. Notable contributions came from ETFs by BlackRock and Fidelity, namely the iShares Bitcoin Trust (IBIT) and Wise Origin Bitcoin ETF (FBTC), with $2.6 billion and $2.2 billion inflows, respectively.

    As the market closely monitors ETF dynamics, it is also anticipating the Bitcoin halving event in April, expected to contribute to price momentum through reduced mining rewards and increased scarcity.

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    Bitcoin Price Surge: Potential All-Time High of $112,000 Predicted Amid ETF Inflows
    Sujit Kumar
    Sujit received his Bachelors in Science from the LNMU Darbhanga. He is currently working as a Content Strategist. He has more than three years of professional experience in information systems, security policies, technologies, and Cryptocurrency. He has published 6 books in the area of information security and assurance. He has published more than 50 research articles in leading journals Regarding the Latest and Breaking Crypto News and updates. His research interests include access control, computer forensics, Digital Marketing, Web development, business hacks, player experience, and virtual storytelling.

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