Bitcoin’s Latest Rally: Eyeing $112K with ETF Support, According to CryptoQuant CEO

In a recent analysis shared by Ki Young Ju, the CEO of CryptoQuant and a respected figure in the cryptocurrency analysis sphere, there’s a measured optimism about Bitcoin’s performance for the year. According to Ju, “Bitcoin could reach $112K this year driven by ETF inflows, worst-case $55K.”

Ju highlights the significant activity in the market, pointing out, “Bitcoin market has seen $9.5B in spot ETF inflows per month, potentially boosting the realized cap by $114B yearly.” This influx is crucial for the market’s dynamics, suggesting a substantial influence on Bitcoin’s valuation over the year. Despite potential setbacks, such as “Even with $GBTC outflows, a $76B rise could elevate the realized cap from $451B to $527-565B,” indicating a strong resilience in the market’s structure.

The analysis also delves into historical data to forecast future movements. Ju notes, “Historically, $BTC market bottoms occur at an MVRV of 0.75 and tops at 3.9.” This historical perspective provides a foundational understanding of how market values might oscillate. Based on the current influx trends without the addition of market hype, Ju estimates, “With current spot ETF inflow trends, the top price could reach $104k-$112k.”

For a scenario devoid of any additional market excitement, Ju’s analysis presents a grounded expectation: “Without hype, maintaining the current level of 2.07, the price would be $55-59k.”

Another top crypto analyst, Michaël van de Poppe, on Sunday made the case of Bitcoin hitting price between $250,000 and $600,000, considering that this cycle is set to distinguish itself from previous ones with the influx of institutional money.