Cardano Is Coming Back To $3.00 This March, Says Crypto Quants As 1Fuel Takes Continuous Bitcoin (BTC) Wealth In Presale
, and traders wondered whether this was market noise or something more fundamental. Sure, it’s close to $100K, but nerves are on edge. Some say the bull run might lose steam, but not everyone’s convinced.
CryptoQuant’s Ki Young Ju isn’t sounding the alarm. He’s pretty optimistic. His take? As long as Bitcoin ETFs draw strong demand, the bull cycle isn’t going anywhere. He points to 2021, when Bitcoin stumbled only after inflows to Grayscale’s Bitcoin Trust slowed down. That’s not the case now, ETFs are still hungry, which could keep things steady.
Since January 2024, Bitcoin ETFs have quietly been stacking up BTC, and that pace has picked up even more since October. They’re sitting on about 1.163 million BTC, nearly 6% of Bitcoin’s total supply.
Adding to this optimism, Illinois recently announced plans to integrate Bitcoin into its state treasury, setting the stage for a broader adoption trend. Texas and New York are also exploring similar moves. If more states follow suit, it could trigger a wave of institutional FOMO, potentially pushing Bitcoin toward the $250,000 mark by 2025.
