Onchain Bitcoin inflows signal strong demand for the world’s largest cryptocurrency, with both investors and miners stepping up activity despite negative market sentiment following the cryptocurrency’s $19 billion plunge.
Over the past week, the realized price of Bitcoin (BTC) increased by more than $8 billion surpassing $1.1 trillion, while the realized price of BTC rose above $110,000, indicating strong onchain inflows.
Bitcoin’s realized cap measures the value of all coins in dollars at their last price move, revealing the total investment of Bitcoin holders.
The new inflows are mostly attributed to Bitcoin treasury companies and exchange-traded funds (ETFs), according to Ki Young Ju, founder and CEO of crypto analytics platform CryptoQuant.
However, Bitcoin’s price recovery will remain limited until Bitcoin ETFs and Michael Saylor’s strategy resume large-scale acquisitions, Ju wrote in Sunday’s X publishadding:
“Demand is now mainly driven by ETFs and MicroStrategy, which have slowed buying recently. If these two channels recover, market momentum is likely to return.”
Related: Saylor Suggests $150,000 Bitcoin in 2025 Despite Trump Tariff Shocks: Finance Redefined
Meanwhile, Bitcoin miners are expanding their operations, leading to a rising hashrate, which is a “clear long-term bullish signal” for the continued growth of the “Bitcoin money pot,” Ju explained.
Several major Bitcoin miners have recently expanded their mining fleets, including the Trump family-linked Bitcoin USA, which bought 17,280 application-specific integrated circuits (ASICs) for about $314 million, Cointelegraph reported in August.
Related: Bitcoin ‘too expensive’ for retail, threatens to end bull market cycle
Bitcoin $140k in November, depending on ETF flows: analysts
Despite $8 billion in new inflows, crypto investor sentiment has failed to recover from the “fear” territory of the market’s record $19 billion drop in early October.
Investor sentiment remained subdued despite the White House releasing a sweeping statement outlining the trade deal reached between President Trump and Chinese President Xi Jinping on Saturday.
However, a resurgence in ETF inflows and a potential announcement of monetary easing by the Federal Reserve could push the price of Bitcoin to $140,000 in November, analysts at the Bitfinex exchange told Cointelegraph, adding:
“Our base case sees Bitcoin rallying towards $140,000, with total ETF inflows of between $10 billion and $15 billion unsurprising.”
“Catalysts include Fed easing with two cuts in the fourth quarter, a doubling of ETF inflows and seasonal strength in the fourth quarter, while risks remain around tariffs and geopolitics,” the analysts added.
Magazine: Bitcoin to experience ‘another big jump’ to $150k, pressure on ETH grows
About the Author
