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crypto.news 2025-02-20 08:55:47

CryptoQuant CEO: Bitcoin bull cycle will go on until heavy ETF outflows

CryptoQuant CEO Ki Young Ju believes Bitcoin’s bull cycle will persist as long as demand for Bitcoin ETFs remains net positive. In a Feb. 20 X post, Ju noted that while Bitcoin ( BTC ) ETF inflows have slowed, they continue to outweigh outflows. He warned that a prolonged period of net negative demand would likely signal the start of a bear market. #Bitcoin ETF demand has slowed but stays net positive. This bull cycle would last until significant ETF outflows emerge. Prolonged net negative demand would signal the start of a bear cycle. Demand and supply are all that matter—everything else is just noise. https://t.co/Zw3TqYliVP pic.twitter.com/MfbVT0W8cJ — Ki Young Ju (@ki_young_ju) February 20, 2025 According to SoSoValue data , Bitcoin ETFs recorded $71.07 million in outflows on Feb. 19, marking the second consecutive day of net redemptions. Fidelity’s FBTC saw the largest withdrawals at $48.39 million, followed by Valkyrie’s BRRR, ARK 21Shares’ ARKB, and VanEck’s HODL. Meanwhile, BlackRock’s IBIT and seven other ETFs saw no significant movement. Despite the short-term outflows, total trading volume remained strong at $2.05 billion. You might also like: Japan’s FSA weighs treating crypto as securities to pave way for ETFs: report Despite short-term outflows , institutional interest in Bitcoin ETFs is growing. On Feb. 14, Abu Dhabi’s Sovereign Wealth Fund, known as Mubadala Investment Company, disclosed that it had invested $436.9 million in BlackRock IBIT shares. The firm is one of the first major sovereign wealth funds to allocate part of its portfolio to crypto. Additionally, in a Feb. 13 filing with the Securities and Exchange Commission, Barclays revealed that it now owns 2.47 million shares of IBIT, valued at $131 million as of December 31. The UK-based bank is among other organizations, such as JP Morgan and Goldman Sachs, who have boosted their exposure to Bitcoin ETFs. Bitcoin is currently hovering $97,000, a significant drop from its peak of $109,200 last month. One of the main causes of this decline may be the market’s declining confidence in the Trump administration’s ability to quickly establish a Strategic Bitcoin Reserve. Many investors expected the market to move quickly after the election, but uncertainty has caused volatility to spike again. Read more: Crypto Task Force discusses staking in ETFs with Jito, Multicoin

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