Macroeconomist Lyn Alden suggests that Bitcoin ($BTC) exchange-traded funds (ETFs) won’t be an immediate game-changer for the crypto’s price.
In an interview on the Blue Collar Bitcoin YouTube channel, Alden explains that while Bitcoin ETFs may not be the driving force behind the next bull market, they could amplify the upward momentum by attracting additional inflows.
Alden emphasizes that the critical catalysts for the next Bitcoin price surge will likely align with those that sparked previous bull markets. She anticipates that Bitcoin ETFs will come into play after BTC hits a new all-time high.
While skeptical about ETFs driving the next bull market, Alden sees them as an additional avenue for inflows during an already established bullish trend. She notes the tendency for money to chase price and highlights the importance of liquidity and tight supply conditions.
According to Alden, Bitcoin’s performance is intricately tied to global liquidity metrics, making liquidity spikes particularly constructive for its price. The macro guru believes that when Bitcoin breaks all-time highs, prompting investment advisers to question their Bitcoin absence, ETFs could contribute to increased inflows. However, Alden clarifies that while ETFs are a positive variable, they are not the primary catalyst in her view.
As of the current writing, Bitcoin is valued at $39,025.
