Bitcoin’s New Milestones — Will Growth Follow?
Investment inflows into spot ETFs have driven growth this year. On 12 March, Investments reached $1 billion, and by 13 March, Bitcoin surged past $73,000.
After two months of relative calm, investor interest revived with new vigour. On Monday, 3 June, net inflows reached $887 million — the second-highest in Bitcoin-ETF history.
Anticipating the end of a prolonged consolidation, traders in the futures market also set a new record of $36.9 billion in open interest.
Hong Kong’s spot ETFs, which launched last month, lag behind their US counterparts in volume. However, they also set a new inflow record this week, raising $32 million on 3 June.
ETFs are now crucial in evaluating prospects, but the halving cannot be overlooked. A reduction in new supply significantly influences crypto growth.
Charles Edwards, founder of Capriole Investments, observes that the halving has led to a “capitulation of miners”, indicated by the crossing of moving averages of the total network computing power. The last similar buy signal occurred in September 2023, when Bitcoin was trading at $26,000.
Veteran trader Peter Brandt also notes the “beautiful symmetry” of market cycles. In each cycle, the halving halved the number of weeks between the start and the peak.
If this model holds true, Bitcoin will peak in September 2025 with a price between $130,000 and $150,000.
Cryptocurrencies involve complexity and carry a high risk of rapid monetary loss due to volatility and changing regulatory landscape. It’s crucial to ensure you understand how cryptocurrencies operate and can withstand the potential high-risk scenario of losing your assets.
This campaign is not region-specific and should not be interpreted as an invitation to engage in cryptocurrencies operations.
