Bitcoin is above the EMA50 and EMA200 on the four-hour timeframe and is in its short-term ascending channel. In case of a downward correction, we can look for Bitcoin buying positions from the channel bottom or the specified support area.
It should be noted that there is a possibility of heavy fluctuations and shadows due to the movement of whales in the market and compliance with capital management in the cryptocurrency market will be more important. If the downward trend continues, we can buy within the demand range.
In 2025 so far, global investors have experienced a continuous swing in market sentiment between two distinct modes:
• Risk-on
• Risk-off
In such an environment, assets like gold and Bitcoin have drawn significant attention as safe havens and portfolio diversification tools. Recent data shows that Bitcoin exchange-traded funds (ETFs) have attracted nearly the same amount of new capital as gold ETFs—a development whose significance goes far beyond a mere statistic.
According to a recently published chart, Bitcoin ETFs have managed to draw almost equal inflows to gold ETFs so far this year. This trend suggests that Bitcoin is gradually securing a position similar to gold within the portfolios of both institutional and retail investors. While the two assets are fundamentally different—one being a physical, traditional commodity and the other a digital, emerging asset—the market’s behavior toward them has been strikingly similar.
At the top of the capital inflows ranking, U.S. equities are far ahead, having attracted over $90 billion in new investment. U.S. bonds hold second place with roughly $50 billion in inflows. Gold and Bitcoin follow closely in third and fourth place, each with around $25–30 billion in new capital.
Ethereum, although trailing behind, is growing rapidly and could soon strengthen its position among the market’s primary assets.
Charles Edwards, founder of Capriole Investments, stated in a recent analysis that Bitcoin’s “fair value” should be around $167,800. This valuation is based on the “Energy Value” metric—a model that considers network energy consumption, supply growth rate, and the dollar value of energy as key factors in determining Bitcoin’s true worth.
Following a record-high Bitcoin network hashrate on August 4—reaching 1.031 zettahashes per second—this model estimates the average price at roughly $145,000 and the potential value close to $168,000. According to Edwards, Bitcoin is currently trading at a 31% discount relative to its energy value. He further noted that even in September 2020, when Bitcoin was priced around $10,000, the deviation from its energy value was smaller than it is today.
Capriole’s data indicates that sustained price growth over the long term typically leads to increased network processing power and improved energy efficiency, ultimately boosting Bitcoin’s energy value. However, if price gains are driven purely by speculation without a corresponding rise in energy capacity, the market tends to revert back to the energy value level.
It should be noted that there is a possibility of heavy fluctuations and shadows due to the movement of whales in the market and compliance with capital management in the cryptocurrency market will be more important. If the downward trend continues, we can buy within the demand range.
In 2025 so far, global investors have experienced a continuous swing in market sentiment between two distinct modes:
• Risk-on
• Risk-off
In such an environment, assets like gold and Bitcoin have drawn significant attention as safe havens and portfolio diversification tools. Recent data shows that Bitcoin exchange-traded funds (ETFs) have attracted nearly the same amount of new capital as gold ETFs—a development whose significance goes far beyond a mere statistic.
According to a recently published chart, Bitcoin ETFs have managed to draw almost equal inflows to gold ETFs so far this year. This trend suggests that Bitcoin is gradually securing a position similar to gold within the portfolios of both institutional and retail investors. While the two assets are fundamentally different—one being a physical, traditional commodity and the other a digital, emerging asset—the market’s behavior toward them has been strikingly similar.
At the top of the capital inflows ranking, U.S. equities are far ahead, having attracted over $90 billion in new investment. U.S. bonds hold second place with roughly $50 billion in inflows. Gold and Bitcoin follow closely in third and fourth place, each with around $25–30 billion in new capital.
Ethereum, although trailing behind, is growing rapidly and could soon strengthen its position among the market’s primary assets.
Charles Edwards, founder of Capriole Investments, stated in a recent analysis that Bitcoin’s “fair value” should be around $167,800. This valuation is based on the “Energy Value” metric—a model that considers network energy consumption, supply growth rate, and the dollar value of energy as key factors in determining Bitcoin’s true worth.
Following a record-high Bitcoin network hashrate on August 4—reaching 1.031 zettahashes per second—this model estimates the average price at roughly $145,000 and the potential value close to $168,000. According to Edwards, Bitcoin is currently trading at a 31% discount relative to its energy value. He further noted that even in September 2020, when Bitcoin was priced around $10,000, the deviation from its energy value was smaller than it is today.
Capriole’s data indicates that sustained price growth over the long term typically leads to increased network processing power and improved energy efficiency, ultimately boosting Bitcoin’s energy value. However, if price gains are driven purely by speculation without a corresponding rise in energy capacity, the market tends to revert back to the energy value level.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.