截止周三，比特币现货ETF总资产净值为640.88亿美元，ETF市值较比特币总市值占比达4.86%，历史累计净流入已达213.45亿美元。Geopolitical tensions, the US election, and inflation prospects are driving the market's safe-haven demand, which has led many institutions to be even more bullish on the price of Bitcoin; Bernstein pointed out in its latest report that Bitcoin prices could rise to 0.2 million USD by the end of 2025.
$Bitcoin (BTC.CC)$ Price outlook has no ceiling, only higher. Amid the bullish cheers at $0.1 million, Bernstein Research predicts in its latest report that by the end of 2025, the price of Bitcoin could reach as high as $0.2 million.
The report points out that by the end of this year, Wall Street is expected to replace Bitcoin's founder Satoshi Nakamoto as the top Bitcoin wallet. This is related to the great success of Bitcoin ETFs, which have become a major trade in ETFs this year.
As of Wednesday, the total net asset value of Bitcoin spot ETFs is 64.088 billion USD, with ETF market cap accounting for 4.86% of the total Bitcoin market cap, and historical cumulative net inflows reaching 21.345 billion USD.
In addition, JPMorgan stated in a report this month that amid escalating geopolitical tensions, investors are turning to gold and Bitcoin for safe-haven trades to deal with potential disastrous situations.
Since the beginning of the month, Bitcoin prices have risen by 6%, currently stabilizing above 67,000 USD. This Monday, Bitcoin briefly rose above 69,400 USD, nearing the key psychological price level of 70,000 USD in the market.
Bullish sentiment continues.
Multiple analysis institutions have issued bullish signals on Bitcoin prices, especially with the upcoming US election, where presidential candidate Trump, who is bullish on Bitcoin, is continuously expanding his campaign advantage.
JPMorgan pointed out that the market is engaging in devaluation trades, leading to a surge in gold demand. The main reasons include rising geopolitical uncertainties since 2022, the high risk brought by long-term inflation, and the continued high government deficits of major global economies.
Hedge fund Tudor Investment founder Paul Tudor Jones also warned that he is bullish on Bitcoin and other csi commodity equity index, as almost all paths lead to inflation after the U.S. election. Gold, Bitcoin, csi commodity equity index, and Nasdaq stock basket are his preferred investments, and he will not hold any fixed income assets.
In addition to macroeconomic impacts, Bernstein also pointed out that the energy demand brought by artificial intelligence contributes to the profitability of Bitcoin. VanEck's Director of Digital Assets Research, Matthew Sigel, explained that AI companies need energy, while Bitcoin miners have energy.
Bernstein pointed out that this will accelerate the industry consolidation of Bitcoin mining and drive a rapid recovery from the slump brought by this year's halving.
Mining company Luxor's CEO Nick Hansen stated that miners can earn $2-3 from artificial intelligence for every kilowatt-hour of energy consumed, while Bitcoin mining earns $0.15-0.20.
Editor/rice
