Crypto Capital Venture, a YouTube analyst with 351,000 subscribers, reports that what is currently happening with the spot Bitcoin ETF is a historic moment for the asset's price.
According to the January 7 video, the analyst shares that if Bitcoin (BTC) closes a candle above $47,000 before the April halving, it may be in an early parabolic bullish move, unlike anything the market has seen has seen before, although Bitcoin has reached these levels before.
The spot Bitcoin ETF is a huge step for all crypto stocks in the long term, the analyst said. Citing a speculative post by Alessandro Ottaviani, an X employee trained at the Austrian School of Economics, he explains that $12 billion to $15 billion in inflows will come from the 11 issuers. He contrasts that a separate post noted that even a $3.5 billion inflow would result in 61,000 BTC. In theory, $12 billion to $15 billion in inflows would push Bitcoin's price even higher.
Ahead of the previous Bitcoin halving, Crypto Capital Venture points to the 618 Fibonacci line, showing that the price has never risen above it before a halving and that the line is currently only 8-9% away.
In this context, he points out that $47,000 is a low point given the asset's current price of $45,000.
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