Bitcoin ETF Inflows Surge After Weeks of Outflows—What Does This Mean for BTC?

Bitcoin ETF: Can BTC Rebound and Reach $200K This Year?

Bitcoin ETF– Despite recent losses in Bitcoin’s [BTC] price and increasing calls for a bear market, Cathie Wood, CEO of Ark Invest, remains optimistic about the cryptocurrency’s future. In a Bloomberg interview, Wood reaffirmed her belief that the market is still in a bull cycle.

Wood pointed out that Bitcoin is currently “halfway through the 4-year cycle,” indicating that she believes the cryptocurrency is still in a bull market phase. She emphasized that the deregulation of U.S. financial markets is a key factor for institutions to move into Bitcoin and other digital assets. Wood has maintained her ambitious price target for Bitcoin, projecting it could reach $1.5 million by 2030.

Bullish Bitcoin Sentiment from Industry Experts

Matt Hougan, CIO at Bitwise, echoed Wood’s positive outlook, stating that if the current macroeconomic uncertainty is resolved, Bitcoin could exceed $200,000 by the end of this year. He referred to the MVRV-Z score, a widely used valuation model and market cycle indicator, which is currently at 1.5—close to last year’s local bottom. Hougan noted that this level was also observed in December 2023, which could signal potential for growth.

On the other hand, Ki Young Ju, CEO of CryptoQuant, expressed a more cautious view, predicting that the bull market could be over for the next 6–12 months. He cited weak ETF flows and low trading volume as factors hindering Bitcoin’s ability to surpass $100,000.

However, recent data suggests a reversal of this trend, with Bitcoin ETF products recording three consecutive days of inflows. On March 17, $274.5 million flowed into Bitcoin ETFs, followed by another $209 million on March 18, according to Soso Value data.

These mixed signals highlight the uncertainty surrounding Bitcoin’s short-term price movements but show that investor interest remains strong in the long run.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.