Bitcoin prices prepare for ‘70% to 80% ‘obtained as onchain and spot BTC ETF inflows spikes
Bitcoin (BTC) The price has been in a continuing dowrend since January, but April 22 which rides in the past $ 91,000 marks the first higher breakout of the year and the potential start of a new longer-term outing.
The higher the pattern took place after the BTC moved above the previous lower high and resistance to $ 88,500, but the real factor that maintains the price is buying volumes in various cohorts of the Bitcoin market.
The US spot bitcoin etfs recorded Total net of $ 381 million on April 21, levels not seen since January 30.
The rising area of BTC’s flow, along with Bitcoin price increases, points to a possible resurrection in institutional demand for Bitcoin, and a change in trend from ETFs can break the seller of pressure that put a BTC price cover over the months.
However, Demand by Retail Investor (Buy volumes between $ 0 and 10,000) remained below 0%, suggested that low consumers of volume have not yet returned. Last year, these investors were caught behind BTC price breakouts, but they strengthened the price momentum once the amount of investors became positive.
Cryptoquant Community Manager Market Highlighting that the current rally is driven by leverage than the volume -driven area. Glassnode data also pointed out that Bitcoin Futures Open Interest (OI) increased $ 2.4 billion to less than 36 hours.
For the price of Bitcoin to maintain a strong position above $ 90,000, the current difference between futures traders and retail entrepreneurs had to go down.
Related: Bitcoin-to-Gold Ratio risks are 35% denial following Wall Street’s $ 13t wipeout
Bitcoin can get “70% to 80% from here”
From a longer perspective, Dorpto founder Hites Hites Malviya said the BTC could get 70% to 80% if it maintains a MVRV ratio of 2 for the next six weeks.
The market value in the realized value (MVRV) ratio, a key onchain metric, compares the Bitcoin market cap to its realized cover – the amount of coins at their final transaction price. Historically, an MVRV above 3.7 often signed overvaluation and top tops, while values near 2 preceded the strong price rally.
Bitcoin’s MVRV mark remained above 2 from October 2024 to February 2025, which is at the same time as high time. Recently, the scale fell below 2 during market correction, but it was trying to get this basic level.
Related: Bitcoin traders turn to $ 93k annual open as BTC prices hit 6-week high
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