Bitcoin (BTC) price prediction: The US BTC Spot ETF is expected to see inflows for 12 consecutive days, challenging the historical high of $111,917.

Gate news: The liquidity trend of the Bitcoin (BTC) spot ETF in the United States continues to drive the BTC price to challenge the historical high of $111,917. Analysts state that the recent price movement of Bitcoin depends on several key driving factors, including U.S. economic data, trade headlines, the Iran-Israel ceasefire, and ETF liquidity.

According to Farside Investors, the main inflows of the US Bitcoin Spot ETF on June 25 included:

· Fidelity Wise Origin Bitcoin Fund (FBTC) net inflow of funds was $115.2 million;

· ARK 21Shares Bitcoin ETF (ARKB) net inflow amount is 70.2 million USD;

· Bitwise Bitcoin ETF (BITB) net inflow of $12.9 million;

· VanEck Bitcoin ETF (HODL) reported a net inflow of $9.1 million.

The fund flow data for BlackRock iShares Bitcoin Spot ETF (IBIT) is about to be released, with the total inflow for the US BTC Spot ETF reaching $207.4 million. It is noteworthy that the US BTC Spot ETF market may extend its net inflow record to 12 trading days. Despite a shaky start in June, the BTC Spot ETF issuers have accumulated a net inflow of $3.201 billion this month, compared to a net inflow of $5.2321 billion in May.

Eric Balchunas, a senior ETF analyst at Bloomberg Industry Research, commented on the impact of the U.S. BTC spot ETF market on Bitcoin price movement, stating: "I also want to remind you that BlackRock applied for a BTC ETF two years ago. Since then, the return has been as high as 234%."

IBIT is crucial for the US BTC Spot ETF market. According to reports, although it will be launched in January 2024, it ranks 4th on the traffic leaderboard from the beginning of the year to date, and 5th in three-year inflows.

Bitcoin Price Outlook

FXEmpire analyst Bob Mason stated that the recent price movement of BTC depends on several key drivers, including U.S. economic data, trade headlines, the Iran-Israel ceasefire, and ETF liquidity, possible scenarios:

Bearish scenario: The escalation of tensions in the Middle East, legislative hurdles, threats of US tariffs, weak US economic data, and outflows from ETFs. These factors combined could push BTC down towards the 50-day Exponential Moving Average (EMA) and below the $100,000 level.

Bullish scenario: Easing tensions between Iran and Israel, bipartisan support for the "Bitcoin Bill", improvement in trade conditions, and inflows into ETFs. In these scenarios, BTC is expected to reach a historic high of $111,917.

(Source: FXEmpire, Trading View)