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Bitcoin ETFs Flows Could Propel BTC Prices to $112K This Year: CryptoQuant, On-chain indicators suggest Bitcoin market is now ‘high risk’ — Glassnode, & more.
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Table of Contents
Tweets
Bitcoin ETFs Flows Could Propel BTC Prices to $112K This Year: CryptoQuant
On-chain indicators suggest Bitcoin market is now ‘high risk’ — Glassnode
In inflation-torn Argentina, locals use ‘crypto caves’ — and avoid Bitcoin
Super Bowl’s global reach is not enough for crypto ads — Kraken exec
Tweets
https://twitter.com/WhaleFUD/status/1756463548354490724
https://twitter.com/jvs_btc/status/1756649624574816715
https://twitter.com/DocumentingBTC/status/1756379807246332074
https://twitter.com/MatthewHyland_/status/1756838442024030542
https://twitter.com/KobeissiLetter/status/1756784102957555814
https://twitter.com/WClementeIII/status/1756734708094775365
https://twitter.com/StealthQE4/status/1756665349582573943
https://twitter.com/WhaleFUD/status/1756827665372176606
https://twitter.com/AlexOttaBTC/status/1756674765228536259
Bitcoin ETFs Flows Could Propel BTC Prices to $112K This Year: CryptoQuant
Bitcoin prices could touch $112,000 this year if the current trend of inflows related to spot exchange-traded funds (ETFs) continues, on-chain data provider CryptoQuant said Sunday.
CEO Ki Young Ju said on X the “worse case” for bitcoin was at least $55,000, or a nearly 15% bump from Monday’s prices. The targets were made based on the effect of inflows on bitcoin’s market capitalization and a metric ratio that has historically indicated if prices were “overvalued” or “undervalued.”
“Bitcoin market has seen $9.5B in spot ETF inflows per month, potentially boosting the realized cap by $114B yearly,” Ki said. “Even with $GBTC outflows, a $76B rise could elevate the realized cap from $451B to $527-565B.”
Ki cited a ratio tracking bitcoin’s market capitalization to realized capitalization – a measure of active tokens at thier last traded price – as potentially marking a top for bitcoin at the $104,000 to $112,00 mark. The ratio would reach 3.9 at those prices, a level that has historically marked a price top.
On-chain indicators suggest Bitcoin market is now ‘high risk’ — Glassnode
On-chain indicators assessing Bitcoin’sBTC) value have entered a “high-risk” zone and could mean the cryptocurrency is in the initial stages of a bull market, says the crypto analysis platform Glassnode.
In a Feb. 10 X post, Glassnode shared that an indicator to identify Bitcoin’s long-term valuation compared relative to its market value had pushed above the “mid-risk” zone and is firmly in the “high-risk” band.
The high-risk level is typically witnessed during the early stages of a Bitcoin bull market as it shows long-term investors have returned to a “meaningful level” of profitability, Glassnode noted in an earlier Feb. 8 report.
The long-term holder market value to realized value (MVRV) indicator aims to identify when Bitcoin is over or undervalued compared relative to its “fair value.”
It contrasts the “market value” of Bitcoin with its “realized value” — the price when Bitcoin was transferred between long-term holder wallets — it “strips out” short-term market sentiment and provides a metric that shows if the market is overheated.
In inflation-torn Argentina, locals use ‘crypto caves’ — and avoid Bitcoin
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