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BitcoinBTC breaks through $48,500The market shows that BTC broke through 48,500 US dollars, currently trading at 48,100 US dollars, with an intraday increase of 2.4%. The market fluctuates greatly, so please control the risks.Bitcoin may reach $112,000 this year, driven by ETF inflowsCrypto Quant founder on social media According to media reports, driven by ETF inflows, Bitcoin may reach $112,000 this year, with the worst-case scenario reaching $55,000. he explained that historically, BTC’s bottom occurs at MVRV 0.75 and its top occurs at 3.9. Based on the current spot ETF inflow trend, the highest price may reach $104,000 to $112,000. If there is no hype and the current level of 2.07 is maintained, the price will be $55,000-59,000.  In addition, monthly spot ETF inflows into the Bitcoin market of $9.5 billion could increase the annual realized cap by $114 billion. Even with GBTC outflows, the $76 billion increase would raise the realization cap from $451 billion to $527-565 billion.Spot Bitcoin ETF reaches $10 billion asset management milestone Spot Bitcoin exchange-traded fund (ETF) completes first 20 trading days transactions, assets under management (AUM) have now reached a milestone of US$10 billion. Data from BitMEX Research shows that on January 9, the net flows of these nine ETFs reached US$2.7 billion, led by BlackRock’s IBIT fund, which currently holds Bitcoin worth US$4 billion. In second place is Fidelity’s FBTC, with over $3.4 billion in BTC under management. ARK 21Shares’ fund also reached the $1 billion milestone, holding about $1 billion worth of Bitcoin in its portfolio. Meanwhile, Grayscale has seen $6.3 billion in GBTC outflows over the past 30 days. On February 9, the fund recorded $51.8 million in outflows, its smallest single-day withdrawal since the switch. Nine spot Bitcoin ETFs hold more BTC than MicroStrategyAccording to HODL15Capital, nine spot Bitcoin ETFs have been purchased within 21 days of their launch 216,309 Bitcoins (valued at $10.3 billion), exceeding the 190,000 Bitcoins currently held by MicroStrategy.  Survey: 84% of investors predict Bitcoin price will hit new highs after production cutsA survey covering nearly 10,000 global investors It shows that as Bitcoin is about to undergo its halving, 84% of participants expect Bitcoin to surpass its all-time high price of $69,000. The survey also revealed that investors in Latin America, East Asia and Southeast Asia are optimistic. Furthermore, the study found that 70% of investors plan to increase their cryptocurrency holdings in 2024, while 55% of participants predict that Bitcoin will stabilize between $50,000 and $100,000 during the next bull run.Cathie Wood: Bitcoin is replacing gold as a store of value assetIn the latest update on YouTube, ARK Invest CEO Cathie Wood said that Bitcoin Bitcoin is actually replacing gold as a store of value asset, and she believes that BTC behaves more as a safe-haven asset and an asset for investors to "pursue high-quality assets" in times of economic uncertainty.  Wood also shared a gold-denominated Bitcoin chart that shows a strong long-term upward trend for BTC. Cathie Wood said this reflects that Bitcoin is now partially replacing gold. She said: “This chart just goes to show you that Bitcoin is rising even relative to gold. Now that there are alternatives to Bitcoin, we think that will continue because there is a simpler, less Frictional way to access Bitcoin (spot ETF)."10x Research CEO: Bitcoin will hit $70,000 by the end of the year10x Research CEO Markus Thielen has unveiled his price target for Bitcoin in 2024, predicting that Bitcoin will rise approximately 65% ​​from current levels to reach $70,000 by the end of the year.  Bitcoin rebounded on the back of macro conditions, monetary policy tailwinds, the U.S. election cycle, and increasing allocation demand for Bitcoin ETFs from TradFi investors, Thielen wrote in a report. To $70,000 seems possible." He also noted that the U.S. presidential election cycle coincides with the Bitcoin halving year, and historical data shows bullishness. Specifically, Bitcoin rose 152% in 2012, 121% in 2016, and 302% in 2020, with an average gain of 192%.#Write2Earn #btc #bitcoin #PYTH $BTC $ETH $BNB #TrendingTopic