$SOL Get ready! Crypto Bull Run Will Make Wallets "Melting", Analyst Lark Davis Says This!
Have you ever imagined how powerful a bull run would be in the crypto world? Well, get ready because according to renowned crypto analyst, Lark Davis, this bull run will be much bigger than we ever imagined! Check out the complete analysis here!
Reasons why the bull run this time will "melt"
In his post on X (formerly Twitter), Davis stated that the bull run this time would "melt" due to the large influence of institutional investors. He gave the example of how the US Spot Bitcoin ETF has recorded daily inflows of hundreds of millions of dollars.
High demand for this ETF means that the ETF issuer has purchased 56,150 BTC in the last 18 days. This amount of Bitcoin is equivalent to four months' supply of Bitcoin generated by miners.
Not only ETF issuers, companies such as MicroStrategy, Block, and Semler Scientific also continue to accumulate Bitcoin. Davis also claimed that wealth managers and pension funds around the world are “lining up” to invest in Bitcoin.
Apart from Bitcoin, Davis also highlighted the Spot Ethereum ETF and its big impact on the current bull run. The Spot Ethereum ETF is expected to experience large inflows once it starts trading.
JPMorgan predicts that this ETF could attract inflows of $1 billion to $3 billion, while crypto research firm K33 Research predicts inflows of up to $4 billion in the first five months of trading.
Crypto analysts such as Michael Van de Poppe also expressed optimism about the Spot Ethereum ETF. He predicts that this ETF could be a catalyst for continuing the bull run, especially for altcoins like Ethereum.
Other Factors Driving the Bull Run
Apart from the factors mentioned by Davis, crypto analyst Patric also highlighted several other factors that could drive the bull run this time.
First, Patric mentioned interest rate cuts by the Canadian and European Central Banks. He believes that the US will soon follow suit.
