Market analyst and president of ETF Shop Nate Geraci has backed U.S. spot Bitcoin ETFs to overtake gold ETFs in terms of cumulative net flows. This prediction comes in the context of the astonishing performance of these Bitcoin ETFs over the past few days, during which they have attracted over $2 billion in weekly net flows.

Analyst says spot bitcoin ETFs will outperform gold ETFs within 2 years

Bitcoin spot ETFs rocked global financial markets this week, recording net inflows of $2.13 billion, according to data from SoSoValue. This massive inflow of investment came as Bitcoin surged 9.23%, approaching the critical resistance zone at $70,000.

Amid this market euphoria, Nate Geraci predicted Spot Bitcoin ETFs will see higher cumulative total net flows than gold ETFs over the next two years. This prediction is largely unsurprising given the exponential growth of these Bitcoin ETFs since their January 11 launch.

For context, gold ETFs currently boast total net inflows of approximately $55 billion compared to total net inflows of $20.66 billion in the Bitcoin cash ETF market. However, Bitcoin ETFs have only been trading for a year compared to gold ETFs that have been around for over 20 years.

Additionally, Bloomberg analyst Eric Balchunas recently highlighted at this point, Bitcoin ETFs have accumulated over $65 billion in total net assets, a milestone that took gold ETFs almost five years to achieve. This figure also represents over 25% of total assets under management global gold ETF market.

Additionally, Geraci’s theory is further strengthened by several 11 spot Bitcoin ETFs currently trading compared to the nearly 5,000 gold ETFs in the global financial market. Therefore, these Bitcoin ETFs may actually outperform their gold counterparts, especially given the upcoming cryptocurrency bull market and the current level of digital asset adoption.

Bitcoin set for price correction amid market rally

In other news, crypto analyst Ali Martinez shared that Bitcoin may soon experience a “short-term decline” following its recent price surge. As mentioned earlier, the cryptocurrency market leader gained over 8%, going from around $63,000 to almost breaking above $69,000.

While the BTC market is currently bullish, Martinez states that the TD sequence is currently indicating a sell signal on the 4-hour chart, which is reinforced by a bearish divergence on the Relative Strength Index (RSI). If Bitcoin’s price were to decline, investors would pay attention to the $60,000 price zone, which is the next support level. Although mighty selling pressure may cause the price of the most crucial cryptocurrency to drop to as low as $55,000.

At the time of writing, Bitcoin is still trading at $68,428, up 0.98% in the last day.