Posted 2/17/2024, 4:01:02 PM
Bitcoin ETFs Drive Record Inflows, Setting Stage for Potential $80K Bitcoin Price
- Bitcoin ETF launch seen as a "coming out party" for BTC, unlocking huge new institutional demand
- Early success of Bitcoin ETFs has shattered records, sparking continuous inflows since mid-January
- Bitwise CIO expects second wave of demand from institutions like banks and wirehouses, driving up prices
- Combination of ETF inflows and upcoming Bitcoin halving could push BTC price above $80,000 this year
- Risks remain around regulation and potential supply shocks from pools of unmoved Bitcoin