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CoinDesk Podcast Network

UNCHAINED: Bitcoin’s Price Is Way Up. And $48 Trillion in Wealth Just Got Access

Mar 1, 2024
Discover how ETF inflows, long-term holders, and upcoming halving might drive Bitcoin's price above $100,000 by year-end. Alex Thorn shares insights on market value to realized value Z-score, impact of major financial institutions adopting Bitcoin ETFs, and speculations on altcoin season. Explore Bitcoin's recent surge, MVRV Z-score metric, and market comparisons with gold. Learn about legal cases in cryptocurrency, industry developments, NFT royalties, and exchange halts in the crypto space.
44:59

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Podcast summary created with Snipd AI

Quick takeaways

  • ETF flows drove Bitcoin's price surge, with over $7.1 billion inflows.
  • MVRV Z-score aids in evaluating Bitcoin's valuation using market and realized value.

Deep dives

Bitcoin ETF Flows Driving Price Surge

ETF flows, particularly into Bitcoin ETFs, were identified as the primary driver behind the recent surge in Bitcoin's price. The ETF complex saw substantial net inflows, surpassing initial expectations. The continuous influx of funds from ETFs contributed significantly to Bitcoin's price increase, with approximately 7.1 billion in net inflows into Bitcoin ETFs noted. Long-term holders reacted to the surge by adjusting their holdings, but the overall market dynamics indicated that Bitcoin was not at a market top.

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