📊 According to model #Bitwise Asset Management,
Bitcoin currently looks approximately ~40% "cheaper than normal".$BTC
The logic is simple:
If we compare the inflows of funds into spot ETFs on BTC since the beginning of 2024, historically the price should have been higher.
What this means:
• 📥 There is demand through funds
• 📉 But the spot price does not fully reflect it yet
• ⚖️ There is a distortion in the market between capital flows and asset valuation
Such discrepancies usually do not last long — the market either catches up to the model, or the model adjusts to a new reality.
The only question is who is "wrong" now — the price or the expectations. 👀
Bitcoin currently looks approximately ~40% "cheaper than normal".$BTC
The logic is simple:
If we compare the inflows of funds into spot ETFs on BTC since the beginning of 2024, historically the price should have been higher.
What this means:
• 📥 There is demand through funds
• 📉 But the spot price does not fully reflect it yet
• ⚖️ There is a distortion in the market between capital flows and asset valuation
Such discrepancies usually do not last long — the market either catches up to the model, or the model adjusts to a new reality.
The only question is who is "wrong" now — the price or the expectations. 👀