Crypto News – James Butterfill, Head of Research at CoinShares, recently examined the possible effects on the Bitcoin price that could arise from the US launch of a Bitcoin Spot ETF.
According to CoinShares Analyst Butterfill, BTC Price Could See $81k
Using fund flow statistics, Butterfill predicted on the X platform that Bitcoin may reach $81,000, igniting speculative thoughts among those interested in the cryptocurrency industry.
There has been a surge in the larger digital asset field as a result of market speculation on the approval of the Bitcoin Spot ETF. Many industry analysts predict that the BTC market will receive a billion-dollar boost if the same is approved.
What Does James Butterfill Think About the Bitcoin Price?
James Butterfill examines the complex connection between Bitcoin prices and exchange-traded products (ETP) fund flows in a recent blog post. Interestingly, Butterfill emphasizes the coexistence of growing prices and higher inflows using historical data, implying that ETP investors should take a momentum-driven approach. Furthermore, the study identifies periods of market weakness that impact sentiment-based ETP trading.
In the meantime, Butterfill presents a forecast model that links weekly flows expressed as a percentage of AuM to 45-day price fluctuations using a quantitative methodology. The model predicts that with an expected $14.4 billion in inflows, the price of Bitcoin might rise to $141,000. Despite this, the analyst presents a matrix of different scenarios for future inflows and their possible effects on Bitcoin values, acknowledging the challenge of accurately estimating future inflows.