Three-quarters of new investment is estimated to come from ETFs as Bitcoin breached the $50,000 mark.
An estimated 75% of new Bitcoin investments come from the 10 spot Bitcoin exchange-traded funds (ETFs) that were approved in the United States on Jan. 11.

In the past two weeks, over three-quarters of new Bitcoin
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investments originated from spot Bitcoin ETFs, excluding Grayscale’s Bitcoin Trust (GBTC) ETF, according to a Feb. 14 report by on-chain data analytics firm CryptoQuant.

“We estimate over 75% of new investment into Bitcoin are coming from these ETFs. Moreover, investment from these ETFs has increased to 2% of the total historical investment in Bitcoin in just one month as measured by the realized market capitalization,” the report said.

Bitcoin rose 1.8% in the 24 hours leading up to 10:45 am UTC on Feb. 15 to trade at $52,354. Bitcoin reached a two-year high of $51,000 on Feb. 14, propelling its market capitalization above $1 trillion for the first time since November 2021. The total crypto market capitalization is $1.96 trillion, up 2.01% on the day at the time of writing.
According to an X post on Feb. 14 by CryptoQuant head of research Julio Moreno, ETF demand was the main driver behind Bitcoin’s price surge:

“Bitcoin has crossed the $50,000 mark mostly on the back of fresh demand from ETFs.”
Related: BTC price due $55.4K next amid warnings over end of Bitcoin 'euphoria'

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The spot Bitcoin ETFs amassed a total of 4,115 Bitcoin, worth approximately $215 million, according to data from Farside Investors. BlackRock’s iShares Bitcoin Trust ETF was responsible for the lion’s share of the inflows, with a total of 4,843 Bitcoin, worth $253 million at the time of writing.
The CryptoQuant research report expects Bitcoin to breach $56,000 as the next significant price level:

“The next target for Bitcoin stands at $56,000 from a network valuation perspective. Valuation indicators are not flashing risks of a meaningful price correction.”
James Wo, the founder and chief executive officer of crypto investment firm DFG, agreed that ETF inflows are the main reason for Bitcoin reaching $52,000. He told Cointelegraph: “The entirety of spot Bitcoin ETF products now holds a cumulative value of more than $10 billion, with BlackRock buying 12x more BTC daily than is being mined, which means the crypto ecosystem entered a new era of institutional adoption through the spot Bitcoin ETFs.”

However, Bitcoin price faces significant resistance around $52,000 due to a “brick wall of asks on Bitfinex,” up to the $52,300 mark, according to an X post on Feb. 14 by on-chain analyst Cole Garner.

Related: Gold ETFs bleed $2.4B so far in 2024 as Bitcoin ETFs hit record volumes.

BTC price due $55.4K next amid warnings over end of Bitcoin ‘euphoria’

Bitcoin may be “up only” on short timeframes, but seasoned traders are already preparing for a blow-off BTC price top and subsequent bear market.
Bitcoin
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is on the way to $55,000 this week — but warnings of a new bear market are already surfacing.

In his latest analysis on X (formerly Twitter) on Feb. 14, popular trader Titan of Crypto confirmed a $55,400 BTC price target next.

BTC price: Ichimoku analysis points higher
Bitcoin bulls continue to fight for the road toward all-time highs, with resistance around $52,000 currently forming the battleground.

Titan of Crypto, capturing overall market sentiment, suggested that “extremely bullish momentum” could take BTC/USD another 6% higher in the coming week.

Uploading a weekly chart including Ichimoku Cloud data, he outlined one more upside target left to hit, with two already achieved.

“Both target 1 & 2 have been hit but $50,900 is a strong level. If Bitcoin manage to close a weekly candle above, target 3 at $55.4k is next,” part of the accompanying commentary stated.

“Note that given the extremely bullish momentum target 3 has high chance to get hit even before the end of the week.”
As Cointelegraph reported, Ichimoku currently shows a rare bullish setup on weekly timeframes, with BTC’s price now clearing major resistance features.

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Trader cautions over “unhinged greed” coming to Bitcoin
Looking ahead, however, concerns over a potentially “overheated” market are leading to BTC price downside predictions.

Related: Bitcoin bulls flirt with $69K BTC price target as crypto market nears $2T

In a lengthy X post, trader and analyst Credible Crypto warned that even if existing all-time highs are exceeded and BTC/USD passes $100,000, the odds of a snap correction are increasing.

This, he says, represents natural market dynamics — despite heavy inflows into the spot Bitcoin exchange-traded funds (ETFs), nothing can remain in “up only” mode indefinitely.

“At the end of the day, for every major parabolic rise there is a major crash, and vice versa,” he wrote.

“You don’t get unhinged greed and euphoria (and the vertical price appreciation that comes with it) without an equal and opposite reaction when that euphoria peaks.”
Credible Crypto referenced another post by trader and YouTuber TXMC Trades, who earlier told readers not to trust in ETF inflows propelling Bitcoin higher ad infinitum.
Others also maintain an air of caution over BTC price strength. For Michaël van de Poppe, founder and CEO of MN Trading, the market is already “slightly overheated.”

“I wouldn’t be unhappy if we got a slight correction to return to reality,” he concluded on the day.
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