Crypto News – On-chain analytics firm CryptoQuant said on Sunday that Bitcoin prices may reach $112,000 this year if ETF-related inflows continue.
CryptoQuant CEO Claims Bitcoin Price Could See 112K Dollars
Bitcoin market has seen $9.5B in spot ETF inflows per month, potentially boosting the realized cap by $114B yearly. Even with $GBTC outflows, a $76B rise could elevate the realized cap from $451B to $527-565B.Ki
Based on how inflows affected the market capitalization of bitcoin and a ratio that has historically shown whether prices were “undervalued” or “overvalued,” the targets were set.
Bitcoin Could Hit a Record High
According to Ki, a ratio that tracks the market capitalization of Bitcoin divided by realized capitalization may indicate that the price of Bitcoin peaked between $104,000 and $112,000. At those prices, the ratio would approach 3.9, which has historically indicated a peak in price.