$BTC

Bitcoin ETF demand may increase as prices fall — CryptoQuant CEO

Young Ju noted that the on-chain cost basis of new BTC whales is around $56,000, and he expects significant capital flows into the spot Bitcoin ETF market if BTC falls to this price level.

CryptoQuant CEO Ki Young Ju predicted a revival in the spot Bitcoin exchange-traded fund (ETF) market if the BTC price drops further.

In a post published on March 22 on X, Young Ju said spot Bitcoin ($65,390 ) ETF network flows could increase even as the decline in BTC prices continues. Using data from historical net flow trends, the CEO noted that demand for Bitcoin ETFs generally occurs when the cryptocurrency reaches certain support levels.

According to data from analytics firm BitMEX Research , spot BTC ETFs have recorded negative net flows over the last four trading sessions, characterized by ongoing outflows from the Grayscale Bitcoin Trust ETF. and reduced inflows into other BTC ETFs.

Young Ju noted that the on-chain cost basis of new BTC whales, particularly ETF buyers, is around $56,000, and he expects significant inflows into ETFs to continue if Bitcoin falls to that level.

According to data from Cointelegraph Markets Pro, the price of BTC has fluctuated between $62,000 and $68,000 over the past week. Young Ju suggests that given that corrections usually see a maximum decline of around 30%, a further decline in price is possible, which would see Bitcoin fall from its recent all-time high of $73,750 to around $51,000.

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