Scott and Bitcoin (BTC) Price Target.
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Bitcoin price has started a new period in which it shows low volatility. We have experienced processes similar to this annoying period that has been going on for a while before. Shallow, boring movements seen before big rises bring to mind the possibilities of a similar reversal. Bitcoin's 1-year volatility was around 43% in December 2023. Since then, spot Bitcoin ETFs have been approved in the United States.
Following an inflow of $12.6 billion, ETFs had attracted an inflow of around $13 billion, but now it has fallen to $11.68 billion. Robert Mitchnick, head of digital assets at BlackRock, which manages over $10 trillion in assets, is not worried about the current situation.
In fact, he thinks that we will see significant inflows through sovereign wealth funds, pension funds and foundations in the coming period. So far, BlackRock's predictions have been proven correct, and it's significant that the world's largest asset manager is making such a prediction. If we see more big players joining the game as expected, we can look forward to these days.
In order for institutional investors to show more interest in the spot Bitcoin ETF, they need to see at least its 6-month performance. We have been sharing warnings and evaluations about this for months, even on the days when the volume was the busiest. Translating liquidity, price deviation, demand and other details into two-quarterly reports will enable investment companies to make decisions for these ETFs. The June and July period is important in this regard.$BTC $ETH