10T Holdings sees $200,000 BTC as elusive, 10X Research warns of BTC ETF liquidity crisis.
Dan Tapiero, founder of global private equity firm 10T Holdings, told The Block that "based on bitcoin's previous cycles, $200,000 is more attainable than expected in this cycle." "The current bitcoin bull run is a combination of macro factors, not just a halving," Tapiero said. The increasing demand for bitcoin ETFs and the decreasing market supply due to the halving creates more upside potential for bitcoin."
On the other hand, according to a 10X Research report, "US spot bitcoin ETFs saw weekly net inflows of around $2.6 billion last week, but the trend is slowing. If future ETF inflows fall short of expectations, bitcoin could fall to the $59K level," the report predicted. "Most of last week's inflows occurred on Monday-Wednesday, when the price of bitcoin rose to around $74k. "The price has now stabilized around the $67K level with short-term support, but the real test will come on the 18th-19th (local time). If ETF inflows disappoint, we could see a correction in the price of bitcoin." "However, despite this potential correction, the crypto bull market is likely to continue. The rally could extend to higher price levels if the price of bitcoin recovers to the $70,000 level."
