As the crypto industry had speculated on if and when Bitcoin could hit the $100,000 milestone (which it has now surpassed reaching a high of more than $103,000) analysis by Copper.co’s Head of Research Fadi Aboualfa suggests ETF flows could be the driver to get Bitcoin over the line.
Fadi Aboualfa, Head of Research at Copper.co said prior to BTC surpassing the $100,000 mark:
“Every 10k BTC added by ETFs has increased Bitcoin’s price by 2.2%. ETF in-flows of circa $1.9bn would be enough to purchase an additional 20,000 BTC and could lead to a $100k Bitcoin within as little as a week or two, given current ETF holdings of 1.08mn. For those with bad memories of Bitcoin’s near-miss at $20k in 2017 – and the bear market that followed – today’s numbers tell a more hopeful story, and the finish line looks to be near.”
The prediction made by Copper’s Fadi Aboualfa was proven right, with an ETF inflow of close to 1.1mn (1.096mn) coins, finally pushing Bitcoin over the 100k threshold earlier this week.
Aboualfa shared with CI his thoughts on how the milestone was reached and his prediction that we could be up to “a year away from identifying the true peak of this cycle.”
Aboualfa, Head of Research at Copper.co said:
“Bitcoin reaching $100K signals the next phase of the bull run, one that now appears resilient to anything but exogenous shocks. This is a remarkable feat for the asset class because prior to 2024, crypto investors had to be introspective and pay most attention to risks within the digital assets ecosystem.”
They added:
“Today, the focus has shifted outwards, with participants scanning for external factors that could halt the upward trajectory. At the very most, we are likely six to twelve months away from identifying the true peak of this cycle which could see an increase in volatility compared to the majority of this past year.”
