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CryptoQuant’s founder Ki Young Ju predicts a serious “sell-side focused liquidity crisis” for Bitcoin in the next six months. Ju believes this situation will not only cause prices to rise beyond expectations but could also potentially negatively impact the market. According to Ju, Bitcoin could surpass $100,000 in the next six months.
Bitcoin Breaks Record Again Today
Following sharp price increases on March 11th, Bitcoin is trading at all-time highs. BTC reached the $73,000 level today. Prices are currently moving sideways, but the upward trend continues. Therefore, it is observed that bulls are targeting $100,000.
If bulls surpass this psychological barrier, technical and fundamental analysts indicate it would be a significant milestone for Bitcoin. Founder Ju expects Bitcoin prices to explode in the next six months, particularly due to two factors. The first is the increasing demand from institutions through spot Bitcoin exchange-traded funds (ETFs). Analysts often associate the current rise with institutional demand. Ju notes that he observed net inflows of over 30,000 BTC last week.
BTC Inflows on the Rise
The situation Ju points out indicates that institutions are contributing to a scarcity by purchasing more Bitcoin than ever before. Now, institutions and wealthy individuals can take positions through spot ETFs without directly owning Bitcoin.
The limited number of Bitcoins held by central exchanges and well-known organizations, especially miners, is also causing concern. According to Ju’s estimates, exchanges and miners hold about 3 million BTC. In addition, Ju states that institutions in the United States own 1.5 million BTC.
Ju emphasizes in his share that the increasing demand for spot ETFs and the limited supply could create a “sell-side focused liquidity crisis” within six months. This scenario could lead to a situation where there are not enough sellers to meet the high buyer demand, pushing prices up.
Cryptocurrency Bitcoin’s network will halve miner rewards from the current 6.125 BTC in April. This means Bitcoin emissions will decrease. Thus, only small amounts of cryptocurrency will enter circulation, and the situation could worsen. Therefore, if current demand levels continue and institutions keep investing in Bitcoin at an increasing rate, the expected scarcity crisis could likely cause a significant disruption in the market and benefit Bitcoin holders.
