According to Ki Young Ju, CEO of on-chain data platform CryptoQuant, the largest cryptocurrency could reach $112,000 this year, whereas Bitcoin has recently hit the $50,000.

Speaking in his analysis on X, Ju said ETFs as the reason for the outflows and said, “With the flow from ETFs, Bitcoin could rise to 112 thousand dollars this year. In the worst-case scenario, the price would be $55,000″.

There were big inflows on Friday

The funds that were opened after January 10, when Bitcoin spot ETFs were allowed, have received a net investment of $2.7 billion at the moment. Friday was one of the most memorable days in this regard.

On February 9, there was a net investment inflow of $250 million to the BlackRock ETF and a net $188 million to the Fidelity ETF.

While the net inflow on a daily basis was 541 million dollars, it was the best level after the inflow of 628 million dollars seen on January 11, the first day when ETFs were opened for trading.

Currently, $32 billion worth of BTC has been invested in Bitcoin ETFs. This amount represents 3.4% of Bitcoin’s total supply.