On-chain Bitcoin inflows signal strong demand for the world’s largest cryptocurrency, with investors and miners ramping up activity despite negative market sentiment since the crypto’s $19 billion crash.
Over the past week, Bitcoin (BTC) realized cap increased by over $8 billion to exceed $1.1 trillion, as BTC’s realized price surpassed $110,000, indicating strong on-chain inflows.
The ceiling achieved by Bitcoin measures the dollar value of all coins at their last modified price, revealing the total investment held by Bitcoin holders.
The new flows are mainly attributed to Bitcoin cash companies and exchange-traded funds (ETFs), according to Ki Young Ju, founder and CEO of crypto analytics platform CryptoQuant.
However, Bitcoin price recovery will remain limited until Bitcoin ETFs and Michael Saylor’s strategy restart large-scale acquisitions, Ju wrote in a Sunday X. jobby adding:
“Demand is now primarily driven by ETFs and MicroStrategy, both of which have slowed purchases recently. If these two channels recover, market momentum will likely return.”
Related: Saylor Predicts $150,000 Bitcoin in 2025 Despite Trump Tariff Shocks: Finance Redefined
Meanwhile, Bitcoin miners are expanding their operations, leading to an increase in hashrate, which is a “clear long-term bullish signal” for the continued growth of the “Bitcoin money ship,” Ju explained.
Several large Bitcoin miners have recently expanded their mining fleets, including those linked to the Trump family. American Bitcoin, which purchased 17,280 application-specific integrated circuits (ASICs) for about $314 million, Cointelegraph reported in August.
Related: Bitcoin ‘too expensive’ for retail threatens to end market bull cycle
Bitcoin $140,000 in November, ETF Flows Show: Analysts
Despite the $8 billion in new inflows, crypto investor sentiment hasn’t been able to recover from the territory of “fear” since the record $19 billion stock market crash in early October.
Investor sentiment remained subdued despite the White House releasing a comprehensive statement outlining the trade deal reached between President Trump and Chinese President Xi Jinping. on SATURDAY.
However, a resurgence in ETF flows and a possible monetary easing announcement from the Federal Reserve could propel the Bitcoin price to $140,000 in November, analysts at the Bitfinex exchange told Cointelegraph, adding:
“Our base case scenario sees Bitcoin climbing to $140,000, with total ETF inflows between $10 billion and $15 billion not surprising.”
“Catalysts include Fed easing with two cuts in the fourth quarter, a doubling of ETF inflows and seasonal strength in the fourth quarter, while risks remain around tariffs and geopolitics,” the analysts added.
Review: Bitcoin will see “another big push” to $150,000, pressure on ETH increases
