CryptoQuant: Demand for Bitcoin ETF Could Increase as BTC Price Drops
CryptoQuant CEO Ki Younger Ju has made a prediction concerning the spot Bitcoin exchange-traded fund (ETF) market.
The CEO highlighted that new BTC whales, notably ETF patrons, have an on-chain price foundation of roughly $56,000. If Bitcoin’s value had been to dip to this degree, Younger Ju anticipates vital inflows into the ETFs.
Younger Ju suggests the opportunity of an extra dip in BTC, as corrections sometimes lead to a drop of round 30%. This might carry Bitcoin’s value to roughly $51,000 from its latest all-time excessive of $73,750. The latest correction in Bitcoin’s value was attributed to overheated market circumstances, described by analysts as retracement forward of the upcoming Bitcoin halving occasion scheduled for April.
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