K33 Research anticipates that spot Bitcoin exchange-traded funds (ETFs) will draw over 30,000 BTC within their first 10 trading days, worth nearly $1 billion. This capital influx could elevate the price of Bitcoin beyond $42,000 within 100 days post-approval.

The prediction springs from an analysis by Vetle Lunde, a seasoned analyst at K33 Research. Lunde based his forecast on the inflow patterns observed for the ProShares Bitcoin Futures ETF (BITO) and Purpose BTC ETF (BTCC) after their debuts.

A Potential 66% Uptick in Bitcoin Price

According to K33 Research, a green light for a spot Bitcoin ETF could catalyze a 66% bull rally. Consequently, potentially propelling the price of Bitcoin toward $42,000 in the first 100 days of its sanction.

The report from K33 Research underscores the possible underestimation by the market of the profound influence a spot Bitcoin ETF approval in the US could have on the cryptocurrency market. Historical data highlights a robust link between hefty inflows and amplified upward momentum.

Read more: How to Buy Bitcoin Safely

Commenting on this, Lunde remarked:

“The market is wrong – and dramat

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Author: Oluwapelumi Adejumo

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