On Sunday, Bitcoin price prediction remains bullish with exchange-traded funds (ETFs) recently reaching an impressive $10 billion in assets under management after just 20 sessions. This significant achievement is bolstered by data from BitMEX Research, which highlights a robust $2.7 billion net flow into nine ETFs.

Leading the charge is BlackRock’s IBIT fund, with an imposing $4 billion in Bitcoin holdings. Not far behind, Fidelity’s FBTC amasses over $3.4 billion, while ARK 21Shares strides past a billion-dollar valuation in its Bitcoin portfolio.

Bitcoin ETF Flow – 9th Feb

All data out. Strong day at $541.5m of net inflow

Invesco had an outflow, the first non-GBTC product to have an outflow day pic.twitter.com/UCFDVAaKD3

— BitMEX Research (@BitMEXResearch) February 10, 2024

Amidst these gains, Grayscale’s GBTC faced $6.3 billion in outflows in the last month alone, with the smallest daily withdrawal recorded on February 9th. These market dynamics prompt a compelling question in Bitcoin price prediction discourse: with this bullish ETF momentum, is a $100,000 Bitcoin valuation within reach in the next two months?

Bitcoin ETFs Triumph: $10 Billion AUM in 20 Sessions

• New spot Bitcoin ETFs have swiftly amassed $fbillion in AUM just 20 sessions post-launch.
• BitMEX Research notes a $2.7 billion influx for nine ETFs on January 9, with BlackRock’s IBIT fund securing $4 billion in Bitcoin, followed by Fidelity’s FBTC managing over $3.4 billion.
• ARK 21Shares joins the billion-dollar club with $1 billion in Bitcoin, while Grayscale’s GBTC registers $6.3 billion in outflows, with the least on February 9, at $51.8 million.
• Bloomberg’s Eric Balchunas observes the ETFs strengthening despite GBTC’s outflows.
• Anticipations for increased Bitcoin ETF flows are high as due diligence by trading firms intensifies.
• Bitcoin price resilience is evident, with ARK Invest citing its January support above $29,902 (200-day MA) and $33,487 (on-chain mean), inching up 0.6% to $42,585.
• ARK Invest posits Bitcoin as the new gold alternative, highlighting a twenty-fold price increase relative to gold since 2017 and expecting the trend to persist.
• Amid changing economic conditions, Bitcoin is tipped to stay robust, even with potential shifts in banking deposits.
• The SEC has greenlit Bitcoin ETFs from several firms, marking progress since the initial 2013 Winklevoss Bitcoin Trust application.

Bitcoin Price Prediction: Poised for Potential Gains

Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.