Alex Thorn unpacks how ETFs, long-term holders, and the upcoming halving should push Bitcoin’s price to over $100,000 by the end of the year.Listen to the episode on Apple Podcasts, Spotify, Fountain, Overcast, Podcast Addict, Pocket Casts, Pandora, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform.After a week in which Bitcoin nearly hit its all-time high, Alex Thorn, head of firmwide research at Galaxy, joins Unchained to discuss the pivotal role of ETF inflows in Bitcoin's recent price surge, the nuanced behaviors of long-term versus short-term holders, and the potential impacts of upcoming halvings and institutional involvement on the market's future trajectory. Alex offers deep insights into the market value to realized value Z-score, explaining its relevance in assessing Bitcoin's valuation. He also delves into the implications of major financial institutions like Merrill and Wells Fargo embracing Bitcoin ETFs for their clients. Furthermore, Thorn speculates on the timing and conditions for an "altcoin season" and shares his price predictions for Bitcoin by the end of the year.Learn more: Bitcoin ETFs Explained: What Are They & How Do They Work?Show highlights:The main drivers for Bitcoin's recent surge, according to AlexWhether long-term Bitcoin holders are selling due to the recent surge in priceWhat the MVRV (market value to realized value) Z-score is and how Alex uses this metric to assess the Bitcoin marketWhy Alex believes this period in Bitcoin's history is distinctWhat the implications of Merrill and Wells Fargo offering Bitcoin ETFs to their customers are, and how this expands Bitcoin's institutional appealHow the upcoming halving could affect the price, especially since Bitcoin is already closer to all-time highs than previous times ahead of the halvingWhy Alex thinks this might be the first time that highs in bitcoin and ether do not lead to an "altcoin season"Alex's price prediction for Bitcoin by the end of the yearThank you to our sponsors!Uniswap  |  iTrustCapital  |  PolkadotGuest | Alex Thorn, Head of Firmwide Research at GalaxyPrevious appearance on Unchained: How Much Money Will Flow Into Bitcoin ETFs? Here’s One ProjectionLinks | Recent coverage on Unchained of Bitcoin’s surge: Should You Sell Bitcoin Now That It’s Nearing Its All-Time High?Bitcoin Watchers React to BTC Returning to the $60,000 MarkCoinbase App Crashes Amid Bitcoin’s Massive RallyBitcoin Price Surges Past $61,000Others:The Block: JPMorgan says bitcoin price could drop towards $42,000 post April halvingBloomberg: BofA’s Merrill, Wells Fargo Offer Bitcoin ETFs to Wealth ClientsPrevious coverage on Unchained of spot Bitcoin ETFs:Why Some Brokerage Firms Are Blocking Access to Spot Bitcoin ETFsWhy Spot Bitcoin ETFs Are Likely to Finally Start Trading on Thursday Why the SEC May Want Cash Creation of Spot Bitcoin ETFsWhy It Looks Like BlackRock Could Win America’s First Spot Bitcoin ETFWill a Spot Bitcoin ETF Finally Get Approved?The 4 Factors That Will Determine Which Spot Bitcoin ETFs Win Market ShareHow Much Money Will Flow Into Bitcoin ETFs? Here’s One Projection-Unchained Podcast is Produced by Laura Shin Media, LLC.  Distributed by CoinDesk. Senior Producer is Michele Musso and Executive Producer is Jared Schwartz. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.