- Bitcoin consolidates near $112K despite record ETF investor withdrawals.
- Institutional leaders emphasize Bitcoin’s disruptive potential and lasting value.
- Scaramucci projects Bitcoin hitting $200K, citing supply-demand imbalance.
Bitcoin continues to trade within a tight range, holding near short-term support levels. Analyst Daan Crypto Trades noted that Bitcoin is hovering around $112,000, which has acted as a strong demand zone after multiple retests.
He highlighted that the next critical level lies at $123,000, marking a return to price discovery. Despite sweeps both below and above the range, the market remains choppy.
He added that temporary support is forming at the 4-hour 200 moving average and a high-volume node, where short-term buyers appear active. Analysts emphasized patience until Bitcoin breaks either extreme of the current consolidation zone.
Record ETF Outflows Signal Shift
Meanwhile, ETF data tracked by Kyle Chassé revealed withdrawals of $523.3 million in a single day. The outflow marked the largest on record, reversing weeks of strong inflows.
Analysts noted that both institutional and retail investors participated in the selling. Total ETF net assets now stand at $146.18 billion despite earlier highs.
Commentator ThaDream suggested the move could reflect profit-taking after a period of strong gains. At the same time, Bitcoin’s spot price slipped toward $113,000, underlining the impact of investor exits.
Institutional Voices Stress Long-Term Value
PayPal founder Peter Thiel said Bitcoin’s scale has become difficult for society to process fully. He described the cryptocurrency as a disruptive financial force and argued that its size proved its value beyond speculation.
Analysts noted that his remarks underscored rising institutional awareness of Bitcoin’s role in global markets.
SkyBridge Capital founder Anthony Scaramucci also reinforced a bullish outlook. He stated that demand for Bitcoin far exceeds its issued supply, highlighting the imbalance between buyers and sellers.
Scaramucci reaffirmed his view that Bitcoin could reach $200,000 this year. Analysts responded by pointing to limited supply and ongoing institutional interest as supporting factors for his projection.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
