Even if institutional investors were to unwind their accumulated exposure, Bitcoin could potentially find a price floor close to $30,000, according to the CEO of CryptoQuant. Such a theoretical downturn would necessitate undoing approximately $58 billion in net inflows directed into U.S. spot Bitcoin exchange-traded funds (ETFs), alongside the liquidation of the 1.3 million BTC currently held by publicly traded companies. Despite these extreme conditions, CryptoQuant CEO Ki Young Ju maintains that Bitcoin’s underlying valuation would hold.
FAQs
What is the potential price floor for Bitcoin according to CryptoQuant?
CryptoQuant CEO Ki Young Ju suggests Bitcoin could find support near $30,000.
What would cause this extreme scenario?
The scenario involves reversing roughly $58 billion in net inflows to U.S. spot Bitcoin ETFs and the sale of 1.3 million BTC accumulated by publicly traded companies.
Who made these claims about Bitcoin’s price floor?
Ki Young Ju, the CEO of analytics firm CryptoQuant, shared this perspective.
