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BRN analyst Valentin Fournier said in a statement that he expects this upward momentum in Bitcoin to continue and that he believes that Bitcoin will not reach $100,000 before the end of the year, but rather surpass it. “These increases confirm our thesis of an accumulation phase before the year-end explosion. If this momentum continues, Bitcoin prices could reach $120,000 before 2025, driven by its solid performance since the US presidential election and increasing retail interest in its long-term potential.”

BRN analyst Valentin Fournier said in a statement that he expects this upward momentum in Bitcoin to continue and that he believes that Bitcoin will not reach $100,000 before the end of the year, but rather surpass it. “These increases confirm our thesis of an accumulation phase before the year-end explosion. If this momentum continues, Bitcoin prices could reach $120,000 before 2025, driven by its solid performance since the US presidential election and increasing retail interest in its long-term potential.”

BRN analyst Valentin Fournier said in a statement that he expects this upward momentum in Bitcoin to continue and that he believes that Bitcoin will not reach $100,000 before the end of the year, but rather surpass it. “These increases confirm our thesis of an accumulation phase before the year-end explosion. If this momentum continues, Bitcoin prices could reach $120,000 before 2025, driven by its solid performance since the US presidential election and increasing retail interest in its long-term potential.”

Spot bitcoin exchange-traded funds in the U.S. saw $400.67 million exit the products on Thursday, with Ark’s and Bitwise’s ETFs recording their largest single-day withdrawals. These outflows ended a six-day streak of positive flows for the ETFs. Fidelity’s FBTC led the outflows on Thursday with $179.2 million leaving the fund, marking its largest daily net outflow since May 1, according to SoSoValue data. Ark and 21Shares’ ARKB recorded $161.7 million in net outflows, while Bitwise’s BITB logged outflows of $113.9 million, both representing their largest daily withdrawals since inception. BlackRock’s IBIT, the largest spot bitcoin ETF by net assets, was one of the only two ETFs to experience positive flows on the day. It recorded $126.5 million in net inflows, while VanEck’s HODL logged inflows of $2.5 million. The five other funds saw zero flows. The total trading volume for these 12 ETFs shrank to $4.8 billion on Thursday, down from $8 billion on Wednesday and $5.7 billion on Tuesday. Ether ETFs saw modest outflows Meanwhile, U.S. spot Ethereum ETFs recorded $3.2 million in net outflows on Thursday, following $146.9 million in daily inflows the day before. Grayscale’s ETHE saw $21.9 million in outflows, and VanEck’s ETHV also logged outflows of $1.1 million. BlackRock’s ETHA drew in $18.9 million, while Invesco’s QETH posted $929,010 in inflows. The five other spot ether ETFs had no flows. The nine spot ether ETFs’ trading volume came down to $439.2 million on Thursday, compared to $722.5 million the day before. “Both Bitcoin and Ethereum ETFs experienced outflows yesterday. This retraction of institutional funds from assets that recently surged but are now losing momentum was anticipated,” said Valentin Fournier, an analyst of BRN, adding: “The inflation data’s bearish undertone reinforced this trend; however, trading volumes remain high, suggesting potential recovery next week.” Bitcoin dipped 2.3% over the past 24 hours to trade at $87,948 at the time of writing, according to The Block’s price page. Ether fell 4.5% to change hands at $3,056. Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures$BTC

Spot bitcoin exchange-traded funds in the U.S. saw $400.67 million exit the products on Thursday, with Ark’s and Bitwise’s ETFs recording their largest single-day withdrawals. These outflows ended a six-day streak of positive flows for the ETFs. Fidelity’s FBTC led the outflows on Thursday with $179.2 million leaving the fund, marking its largest daily net outflow since May 1, according to SoSoValue data. Ark and 21Shares’ ARKB recorded $161.7 million in net outflows, while Bitwise’s BITB logged outflows of $113.9 million, both representing their largest daily withdrawals since inception. BlackRock’s IBIT, the largest spot bitcoin ETF by net assets, was one of the only two ETFs to experience positive flows on the day. It recorded $126.5 million in net inflows, while VanEck’s HODL logged inflows of $2.5 million. The five other funds saw zero flows. The total trading volume for these 12 ETFs shrank to $4.8 billion on Thursday, down from $8 billion on Wednesday and $5.7 billion on Tuesday. Ether ETFs saw modest outflows Meanwhile, U.S. spot Ethereum ETFs recorded $3.2 million in net outflows on Thursday, following $146.9 million in daily inflows the day before. Grayscale’s ETHE saw $21.9 million in outflows, and VanEck’s ETHV also logged outflows of $1.1 million. BlackRock’s ETHA drew in $18.9 million, while Invesco’s QETH posted $929,010 in inflows. The five other spot ether ETFs had no flows. The nine spot ether ETFs’ trading volume came down to $439.2 million on Thursday, compared to $722.5 million the day before. “Both Bitcoin and Ethereum ETFs experienced outflows yesterday. This retraction of institutional funds from assets that recently surged but are now losing momentum was anticipated,” said Valentin Fournier, an analyst of BRN, adding: “The inflation data’s bearish undertone reinforced this trend; however, trading volumes remain high, suggesting potential recovery next week.” Bitcoin dipped 2.3% over the past 24 hours to trade at $87,948 at the time of writing, according to The Block’s price page. Ether fell 4.5% to change hands at $3,056. Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures$BTC