Analysis: Each Additional 10,000 BTC Held by ETFs Could Push Average Price Up by 1.8%, Potentially Reaching $150,000 in October
According to ChainCatcher, citing a report from Decrypt, research firm Cooper Research has released a report indicating that as large amounts of investor capital flow into Bitcoin exchange-traded funds, a rise in Bitcoin’s price now appears inevitable.
Data shows that for every additional 10,000 BTC held by ETFs, the price of Bitcoin can increase by an average of 1.8%. Analysts point out that based on a range of data indicators, Bitcoin seems poised for another significant rally. The leverage-driven market frenzy is gradually fading, and Bitcoin’s price movement may take a more moderate path, with projections suggesting it could reach $140,000 in September and possibly rise to $150,000 as early as the beginning of October.
