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According to on-chain data tracking and analysis platform CryptoQuant, the price of BTC could rise to new highs if the current trend of inflows into Bitcoin ETFs continues. CryptoQuant CEO Ki Young Ju said yesterday that the price of Bitcoin could reach $55,000 even in worst-case scenarios. The CEO stated that this prediction is shaped by the current dynamics in the market and the halving event. #HotTopicDiscussion#

Young Ju Announces 2024 Bitcoin Peak Target, The Worst Will Be At This Level CryptoQuant CEO Ki Young Ju thinks the latest ETF inflows are positive. In the worst-case scenario this year BTC could climb between $55,000 and $59,000. The optimistic peak forecast for 2024 is $104,000-$112,000. #ContentStar# #Gate post Highlights# #HotTopicDiscussion# #BountyCreator#

👉 Bitcoin: A fall below $50,000 before the Bull Run?📊🤔 ✔️Bitcoin, the cornerstone of the cryptocurrency market, is facing unprecedented turmoil in 2024. CryptoQuant CEO's recent revelations about the "Max Pain" price level and slowing Bitcoin ETF net flows raise concerns questions about the immediate future of the main cryptocurrency. 👉 A clear slowdown in Bitcoin ETF flows, a bad omen? ✔️Data provided by CryptoQuant CEO Ki Young Ju points to a significant slowdown in net capital flows into spot Bitcoin exchange-traded funds (ETFs). This revelation is rattling investors, suggesting that confidence in Bitcoin's continued growth may be eroding. Sell ​​signals are emerging as market participants begin to take profits. Thus creating downward pressure on the price of BTC. The possibility of a major correction, as indicated by the 📉$51,000 “Max Pain” price level revealed by Ki Young Ju, is weighing heavily on market sentiment, prompting investors to remain vigilant in the face of increased volatility. #Gate Post Highlights##NewYear2024##ContentStar##比特币##BountyCreator##HotTopicDiscussion##GateioBountyCreator##Crypto ##BTC#

#What will ETH's price be with expected ETF trading?# This Data May Ignite the Rise for Ethereum Ethereum continues to make a mark on recent days. According to this, the MRVR data surpassed Bitcoin. This can make the asset appreciate in value. An important data used to determine whether Ethereum is overvalued has risen compared to Bitcoin, but an analyst argues that the asset may not yet be in the overbought zone. Crypto analysis firm CryptoQuant CEO Ki Young Ju stated that Ethereum's Market Value to Realized Value (MVRV) is rapidly increasing, accompanied by an increase in transaction volume and active addresses on the Ethereum network. Attention-Grabbing Data for Ethereum Ju explained in a post dated June 19th that the ETH MVRV data rose faster than the BTC MVRV data, indicating that the Ethereum market is warming up according to on-chain fundamentals. MVRV indicates whether an asset is trading above or below its fair value, which is the difference between the price users pay for the asset and the current market price. According to Santiment data, Ethereum's MVRV ratio reached 91.43, a 29.9% increase compared to Bitcoin in the last 30 days, while Bitcoin's MVRV ratio reached 127.41, a 10.8% decrease during the same period. A high MVRV implies that Ethereum's market value is higher than its realized value; indicating that it is overvalued and there may be a potential for future selling. However, Ju suggests that the high MVRV data may not scare investors as spot Ethereum ETF funds are expected to trade soon. Ju, referring to the timeline of the ETF trade transactions that SEC Chairman Gary Gensler said would start this summer, added that considering the current ETF situation, this could only be an Ethereum season. Eric Balchunas suggested that this could start as early as July 2. What's Happening in the Ethereum World? Crypto analyst Yoddha pointed out the current price position of Ethereum on the chart and noted a slight consolidation after the morning star formation; this is a signal of an upward reversal from the bottom of the downtrend. Yoddha shared the following statement on June 19 regarding the matter: "Ethereum price is holding up pretty well and seems ready to go crazy. It will be above $10,000 before the end of the year. Mark my words." After Consensys announced on June 18th that the United States Securities and Exchange Commission (SEC) had concluded its investigation into whether Ethereum is classified as a security or not, it rose above the critical $3,500 level with a 1.37% increase. According to TradingView data, Ethereum's dominance in the cryptocurrency market has increased significantly by 6.62% in the last seven days. Meanwhile, Bitcoin's dominance experienced a slight decrease of 0.23% during the same period.

#Register for WCTC S6 and grab exclusive gear and PEPE airdrops!#Bitcoin's 15-Year Record: Pay Attention to Short and Long-Term Investor Behaviors! The behaviors of investor groups with short and long-term perspectives in Bitcoin have attracted attention. CryptoQuant CEO Ki Young Ju analyzed the behavior of Bitcoin investors. Young Ju pointed out that different behaviors were exhibited by short, medium, and long-term investor groups and drew attention to the increasing long-term investor base. It is noted that investors who have held Bitcoin for more than 3 years continue to hold without selling, while those who hold Bitcoin for 6 months to 2 years emphasized that they sold most of their assets as the price approached the old ATH. Short-term sellers are selling, long-term holders are heading for a record In addition, it was reported that wallets holding Bitcoin for more than 2 years sold 67% of their assets in the past period. These sales were interpreted as a tendency for long-term investors to realize some of their gains. However, it is important to note that this does not imply a change in long-term investment strategies, but rather that partial sales are a natural process when certain targets are reached. The number of wallets holding Bitcoin long-term has reached an all-time high. This increase indicates that Bitcoin is strengthening its position as digital gold and may continue to attract more institutional and individual investors in the future. Stay tuned for new information