Bitcoin Price Could Reach $1 Million By 2028 Amid Strong ETF Inflows

Bitcoin’s price is approaching $96,000 amidst significant ETF inflows totalling $763.8 million, with Arthur Hayes predicting a potential price of $1 million by 2028. The strong realized capitalisation and futures interest signal robust investor demand and growing institutional participation in the cryptocurrency sector.

Bitcoin’s price trajectory is once again generating headlines, fuelled by surging institutional interest and ambitious predictions. Recently, Bitcoin exchange-traded funds (ETFs) noted an impressive $763.8 million in inflows over just two days, suggesting renewed confidence in the world of cryptocurrency. This includes a substantial $216 million investment in BlackRock’s iShares Bitcoin Trust, which is leading the charge as investors seem eager to ride the BTC wave.

The inflows saw Bitcoin resting near a crucial price point of $95,000, edging closer to a significant $96,000 resistance level. Notably, while Bitcoin ETFs flourished, Grayscale’s GBTC suffered an outflow of $69.9 million following its recent conversion to a spot ETF, marking yet another interesting development in the sector. As 2025 approaches, total spot ETF inflows are expected to touch $39 billion; a clear indicator of institutional players now claiming a larger slice of Bitcoin exposure through regulated channels.

In a notable statement at the TOKEN2049 event in Dubai, Arthur Hayes, former CEO of BitMEX, boldly predicted Bitcoin could reach $1 million by 2028. His forecast hinges on the premise that an expansion of the U.S. money supply may coincide with a loosening of monetary policy, similar to the quantitative easing policies employed in the past.

Hayes also expressed concerns over macroeconomic uncertainties, specifically the delays surrounding U.S. tariff policies. Such a landscape could hinder direct Federal Reserve actions for now. Other forecasts seem a bit more cautious, predicting Bitcoin will settle at around $148,000 by 2028. Hayes’ outlook, however, has sparked renewed interest in Bitcoin’s future valuation from both institutional and retail investors alike.

Market metrics reveal that Bitcoin’s Realized Capitalization has recently climbed to $882.2 billion. This figure represents the total value of Bitcoins based on their last trade price, highlighting growing confidence and foreign investment interest within the market. Additionally, ongoing Bitcoin futures Open Interest continues to hover comfortably above $60 billion, reinforcing signs of active participation from both traders and institutional players alike.

Analysts have noted that historically, increases in Realized Capitalization tend to precede price gains. With the market seeing a solid presence of futures open interest, investor sentiment appears to be robust. Hunter Horsley pointed out that as only an estimated 165,000 Bitcoins will be mined by 2025, recent public firm purchases of 95,000 BTC in the first quarter suggest a tightening supply. Such dynamics could bolster a bullish outlook for Bitcoin in the long run as analysts believe sustained institutional accumulation might propel the price toward a spectacular six-figure target.

For the day, Bitcoin’s price sat at $94,429, reflecting a slight decline of 0.51% with trading fluctuating between $93.5K and $95.5K. Notably, the 24-hour trading volume has tapered to $26 billion, indicating some shifts in market activity.

Disclaimer: This article presents the author’s views and opinions for informational purposes only; they do not offer investment or financial advice. Engaging in cryptocurrency trading or investment carries risks of financial loss.