The post Bitcoin Price Prediction: Technicals and ETF Inflows Point to a 70% Rally appeared on BitcoinEthereumNews.com.

Bitcoin price is currently trading above $98,000, buoyed by strong technical indicators and notable Bitcoin exchange traded fund (ETF) inflows. Here’s an interesting take on the recent Bitcoin price prediction models. Recent market data shows that despite occasional drops below the $98,000 mark since early November 2024, Bitcoin has repeatedly bounced back, sparking rallies that push its price to new heights. Bitcoin Exchange Supply Shrinks A reduction in Bitcoin held on centralized exchanges is another factor supporting the bullish outlook. Data from Coinglass shows that BTC balances on exchanges have fallen by 13% in the past six months. On August 9, 2024, exchanges held 3.1 million BTC, but by February 5, 2025, this number had dropped to 2.67 million BTC—a six-year low. This decline occurs even as Bitcoin price has increased by over 60% over the same period. Bitcoin Exchange Balance | Source: Coinglass Investors appear to be moving their holdings to self-custody wallets, indicating a long-term view rather than a readiness to sell. On February 5 alone, data from Santiment shows that over 17,000 BTC were withdrawn from exchanges, with 15,000 BTC leaving Coinbase in the United States. – Advertisement – These figures underscore a growing trend where holders remove Bitcoin from exchanges, reducing available supply and potentially supporting higher prices. Institutional Inflows Bolster Market Confidence Institutional interest continues to grow, especially with the strong inflows into US-based spot Bitcoin ETFs. Over the past two weeks, these ETFs have attracted approximately $2.5 billion in fresh capital. Since their launch on January 11, 2024, these investment vehicles have accumulated nearly $40 billion in assets. Data from Farside Investors confirms this substantial ETF capital influx, which has contributed to Bitcoin’s rising price. Additionally, the Digital Asset Fund Flows Weekly Report from CoinShares noted net inflows of $486 million into BTC investment funds for the week ending January 31, 2024.…

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Filed under: News - @ February 10, 2025 10:24 am