CryptoQuant CEO sees $30,000 Bitcoin floor even if ETFs and treasury firms exit

Bitcoin could find support near $30,000 even if institutional investors unwind their accumulated exposure, CryptoQuant's chief executive argues. The scenario would require reversing roughly $58 billion in net inflows to US spot Bitcoin exchange-traded funds (ETFs) and selling the 1.3 million BTC publicly traded companies have accumulated. Yet CryptoQuant CEO Ki Young Ju believes Bitcoin's on-chain investor cost basis would still support prices about three times McGlone's $10,000 crash forecast. “Even if all of it leaves, on-chain cost basis still puts the floor near $30k,” Ju wrote on X on Oct. 16, responding to Bloomberg Intelligence strategist Mike McGlone. The scale of that hypothetical retreat is substantial. US spot Bitcoin ETFs have attracted $56.95 billion in cumulative net inflows through Oct.

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to CryptoSlate.