Here’s When Bitcoin ETFs Could Drive BTC Price to Greater Heights, According to Macro Guru Lyn Alden – The Daily Hodl

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Macroeconomist Lyn Alden believes that Bitcoin (BTC) exchange-traded funds (ETFs) will not have an immediate impact on the price of the crypto king.
In a new interview on the Blue Collar Bitcoin YouTube channel, Alden says that Bitcoin ETFs will likely not serve as a key catalyst for a bull market but they could attract more inflows which would send BTC to greater heights.
“[The Bitcoin ETF] doesn’t really affect my view of the direction over the next two years, but it can add more magnitude to the upside than if these didn’t exist.
So for example, I am doubtful that ETFs are going to drive the next bull market, but I think that as that bull market materializes, that’s another ease of inflow that could make the bull market do better than it would if these ETFs did not exist.
Money tends to chase price ironically.” 
Alden also notes that the next Bitcoin price expansion will likely be triggered by the same catalysts that have ignited past bull markets. According to the macro guru, Bitcoin ETFs will come into play when BTC registers a fresh all-time high.
“I think that the next bull market probably comes from the same types of directions that the prior bull markets came from which is – we went from this bear market, a lot of the fast money is out of Bitcoin, it’s gravitated toward those strong hands, people that are dollar-cost averaging in, people that listen to podcasts like this and they don’t really plan on selling for the foreseeable future. They’re locked in.
Eventually, you get that really tight supply situation and then you get better liquidity conditions. I’ve been beating the drum for a while that Bitcoin is very correlated with global liquidity metrics, more so than any other asset I track…
When liquidity goes up, that tends to be constructive for Bitcoin price, but then it’s especially so when you’ve been in a bear market for a while and a lot of those loosely held coins have gravitated toward the stronger hands that are only going to come out with a 5x increase…
When you break all-time highs, that’s when people and their RIAs (registered investment advisers) are saying ‘Why aren’t we in Bitcoin? The ETFs came out months ago. What are we doing?’ 
Then you can get some of the inflows, and that’s when I think it could add to it. It’s certainly a constructive, positive variable but for me, it’s not the key catalyst.” 
At time of writing, Bitcoin is worth $39,972.
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