BTC Price Might Hit $81K Amidst Bitcoin ETF Approval - Predicts Coinshare Research Head
In recent months, the anticipation of a spot Bitcoin ETF approval in the U.S. has triggered a significant surge in Bitcoin prices. James Butterfill, the...
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- The anticipation of a spot Bitcoin ETF approval in the U.S. has led to a surge in Bitcoin prices.
- James Butterfill, the Head of Research at CoinShares, shared his analysis on the potential impact of a Bitcoin Spot ETF.
- Butterfill suggests that $2.5 billion inflows could push prices up to $54,000, while $6.2 billion inflows could potentially drive prices up to $81,000.
- Butterfill's analysis explores the relationship between Bitcoin prices and Exchange-Traded Products (ETP) fund flows.
- He recommends a momentum-driven approach for ETP investors and identifies periods of market weakness that impact sentiment-based ETP trading.
- Butterfill introduces a forecast model linking weekly flows to 45-day price fluctuations.
- The model predicts that $14.4 billion in inflows could propel the price of Bitcoin to $141,000.
The article has a positive sentiment overall, as it discusses the potential surge in Bitcoin prices due to the anticipation of a spot Bitcoin ETF approval in the U.S. James Butterfill's analysis also supports this positive sentiment.