Bitcoin Bull Run Set to Continue, Says CryptoQuant CEO—Until ETF Outflows Turn Negative
CryptoQuant CEO Ki Young Ju has expressed confidence that Bitcoin’s bullish cycle will persist, as long as Bitcoin ETF demand remains strong. In a February 20th post on X, Ju highlighted that while Bitcoin ETF inflows have slowed, they still surpass outflows. However, he cautioned that sustained net negative demand could signal the end of the current bull market.
Data from SoSoValue revealed that Bitcoin ETFs experienced $71.07 million in outflows on February 19, marking a second consecutive day of redemptions. Fidelity’s FBTC saw the largest withdrawals at $48.39 million, with additional outflows from Valkyrie’s BRRR, ARK 21Shares’ ARKB, and VanEck’s HODL. In contrast, BlackRock’s IBIT and several other ETFs saw no significant movement. Despite these short-term outflows, total trading volume remained robust at $2.05 billion.
Interestingly, institutional interest in Bitcoin ETFs continues to rise. On February 14, Abu Dhabi’s Mubadala Investment Company, a sovereign wealth fund, revealed a $436.9 million investment in BlackRock’s IBIT shares—marking one of the first major sovereign funds to diversify into crypto. Additionally, Barclays disclosed a $131 million stake in IBIT, further highlighting growing institutional exposure, joining firms like JP Morgan and Goldman Sachs in embracing Bitcoin ETFs.
Bitcoin’s price currently hovers around $97,000, a decline from last month’s peak of $109,200. Experts point to waning confidence in the Trump administration’s plans for a Strategic Bitcoin Reserve as a key factor in the recent market dip, triggering increased volatility among investors.
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