Bitcoin Price Prediction: Kazakhstan's First Spot BTC ETF Launches, Targeting $130,000!

With Kazakhstan officially launching the first Spot Bitcoin (BTC) Exchange-Traded Fund (ETF) in the Central Asian region, market bullish sentiment has further intensified. This move not only provides local and international investors with a regulated Bitcoin investment channel, but also adds new momentum for BTC to break through the psychological barrier of $130,000.

Kazakhstan Launches First Spot BTC ETF

Fund Name: Fonte Bitcoin ETF (BETF)

Exchange: Astana International Exchange (AIX)

Management Party: Fonte Capital

Custodian: BitGo Trust (regulated in the United States, providing asset protection for several major US ETFs)

As one of the world's major Bitcoin mining centers, the listing of the ETF in Kazakhstan signifies that the country is accelerating its embrace of crypto assets and may attract capital inflows from Central Asia and international markets.

Institutional Capital Trends and Sovereign Fund Allocations

Norway's sovereign wealth fund: The indirect holdings of BTC have increased by 192% over the past year, currently holding 7,161 BTC indirectly through shares in listed companies such as Coinbase, Metaplanet, and Strategy.

Other sovereign funds: Sovereign funds from Wisconsin, Kazakhstan, and other regions have also indirectly increased their holdings of Bitcoin through equity in listed companies, ETFs, and bonds.

Meaning: In jurisdictions where there are still restrictions on direct ownership of cryptocurrencies, this indirect holding method has become an important way for institutions to布局 BTC.

Bitcoin Technical Analysis

(Source: Trading View)

Current Price: 122,535 USD

Breakout: It has broken away from the downward channel since mid-July and is above the 50-week moving average (117,774 USD).

Support level: 23.6% Fibonacci retracement level ($117,335) forms strong support.

Momentum Indicator:

RSI: 68.31, close to overbought but no signs of weakness yet.

MACD: bullish momentum continues to expand.

Pattern observation: forming a bullish flag. If it breaks through 123,236 USD, it will open up upward space to 126,242 USD and further challenge 130,000 USD.

Price Targets and Trading Strategies

Short-term targets: $123,236 (breakout point) → $126,242 → $130,000 (psychological barrier)

Entry Strategy:

Aggressive: Enter after confirming a breakout above $123,236, with a stop loss set at $121,500.

Conservative: Wait for a pullback to the support level of 117,774 USD before entering the market to reduce risk.

Fundamentals alignment: If institutional coin holders continue to increase their holdings and long-term holders maintain supply constraints, the technical and fundamental aspects will resonate, driving BTC to break through 130,000 USD in the short term.

Conclusion and Market Outlook

The listing of Kazakhstan's first Spot BTC ETF injects new capital momentum into the Central Asian market and further confirms Bitcoin's penetration in the global financial system.

With the continuous influx of sovereign funds and institutional capital, as well as the formation of technical breakout patterns, BTC is not only expected to reach $130,000 in this cycle but may also push for higher price levels later on.

Gate will continue to track ETF capital inflows and changes in market technical structure, providing investors with real-time market data and strategy analysis.