Bullish voices are popping up again. This CryptoQuant chart overlays the 30-day change in ETF demand with the bitcoin price, and the caption says “Smart money knows Bitcoin will hit $150,000 soon.”
The purple zone is the 30-day increase/decrease in ETF demand, and the white line is the price. Around June, the price was driven down to a low point, and demand temporarily fell deep into negative territory; in the past few months, demand has turned positive again, and the price has climbed back above $110,000 from those lows—“demand has returned” is what that period is describing.
But the same chart also serves as a reminder: over the course of this year, demand has surged and then fallen back several times, with wild fluctuations—not a steady climb. People calling for $150,000 in the chart don’t provide a timeline, nor do they explain what conditions would indicate they’re wrong.
A target price is an opinion, not a guarantee. Demand warming is an objective signal, but translating it into a specific price point leaves far too many variables in between. You can listen to the bullish logic—just don’t treat price levels as promises.
The purple zone is the 30-day increase/decrease in ETF demand, and the white line is the price. Around June, the price was driven down to a low point, and demand temporarily fell deep into negative territory; in the past few months, demand has turned positive again, and the price has climbed back above $110,000 from those lows—“demand has returned” is what that period is describing.
But the same chart also serves as a reminder: over the course of this year, demand has surged and then fallen back several times, with wild fluctuations—not a steady climb. People calling for $150,000 in the chart don’t provide a timeline, nor do they explain what conditions would indicate they’re wrong.
A target price is an opinion, not a guarantee. Demand warming is an objective signal, but translating it into a specific price point leaves far too many variables in between. You can listen to the bullish logic—just don’t treat price levels as promises.