{"id":33615,"date":"2026-07-01T19:53:09","date_gmt":"2026-07-01T19:53:09","guid":{"rendered":"https:\/\/bitunikey.com\/news\/cz-shrugs-off-etf-exodus-with-1-million-bitcoin-call\/"},"modified":"2026-07-01T19:53:16","modified_gmt":"2026-07-01T19:53:16","slug":"cz-shrugs-off-etf-exodus-with-1-million-bitcoin-call","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/cz-shrugs-off-etf-exodus-with-1-million-bitcoin-call\/","title":{"rendered":"CZ shrugs off ETF exodus with $1 million Bitcoin call"},"content":{"rendered":"<div class=\"post-detail__content blocks\">\n<p class=\"is-style-lead\">Bitcoin has remained under pressure after U.S. spot ETFs recorded $222.64 million in outflows, while Changpeng Zhao has reiterated his belief that the cryptocurrency can reach $1 million over the next decade.<\/p>\n<div id=\"cn-block-summary-block_55a3955b31ed4fecc6e454cca6a31d1e\" class=\"cn-block-summary\">\n<div class=\"cn-block-summary__nav tabs\">\n        <span class=\"tabs__item is-selected\">Summary<\/span>\n    <\/div>\n<div class=\"cn-block-summary__content\">\n<ul class=\"wp-block-list\">\n<li>Changpeng Zhao says Bitcoin could reach $1 million as global ownership remains below 1%.<\/li>\n<li>U.S. spot Bitcoin ETFs recorded $222.64 million in net outflows, led by BlackRock\u2019s IBIT.<\/li>\n<li>Bitcoin trades below key resistance, with $57.8K support and $63.7K\u2013$65.3K as upside targets.<\/li>\n<\/ul><\/div>\n<\/div>\n<p><!-- .cn-block-summary --><\/p>\n<p>According to an interview Zhao gave to Block, the Binance founder argued that Bitcoin ownership remains extremely limited worldwide, with fewer than 1% of people currently holding the asset.<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-x wp-block-embed-x\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">\ud83d\udd25CZ: BITCOIN <a rel=\"nofollow\" target=\"_blank\" rel=\"nofollow\" href=\"https:\/\/x.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$BTC<\/a> TO $1 MILLION BY 2033 IS \u201cTOTALLY POSSIBLE\u201d<\/p>\n<p>CZ told The Block that Bitcoin holders in terms of wealth are \u201cprobably less than 1%,\u201d meaning \u201cthe demand for Bitcoin can be significant.\u201d<\/p>\n<p>He said if the next cycle goes 5x, Bitcoin could reach $600K, then the 2023\u2026 <a rel=\"nofollow\" target=\"_blank\" rel=\"nofollow\" href=\"https:\/\/t.co\/TW9BOsIDmT\">pic.twitter.com\/TW9BOsIDmT<\/a><\/p>\n<p>\u2014 Coin Bureau (@coinbureau) <a rel=\"nofollow\" target=\"_blank\" rel=\"nofollow\" href=\"https:\/\/x.com\/coinbureau\/status\/2072267721299853688?ref_src=twsrc%5Etfw\">July 1, 2026<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n<p>He said the low level of adoption leaves substantial room for future demand as more retail and institutional investors enter the market over multiple cycles.<\/p>\n<h2 class=\"wp-block-heading\">Low ownership remains central to Zhao\u2019s bullish outlook<\/h2>\n<p>Building on that argument, Zhao said Bitcoin could climb to around $600,000 during the next major market cycle, representing roughly a fivefold increase from current levels. He added that another cycle would only need to double that valuation for Bitcoin to reach the $1 million milestone, describing the scenario as achievable if adoption continues to expand.<\/p>\n<p>Although Zhao acknowledged he could not predict exactly when those milestones would be reached, he maintained that long-term price appreciation would depend more on rising ownership than on short-term market speculation. He also noted that institutional participation, alongside continued retail adoption, could support Bitcoin\u2019s value over time as ownership becomes more widespread.<\/p>\n<p>Zhao\u2019s comments come as long-term Bitcoin price forecasts remain a recurring topic across the digital asset industry, with several market participants continuing to argue that growing global acceptance could support higher valuations over the coming years.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p>\n<h2 class=\"wp-block-heading\">Institutional demand pauses as technical resistance holds<\/h2>\n<p>While Zhao focused on Bitcoin\u2019s long-term adoption story, U.S. spot Bitcoin ETFs experienced a setback on June 30 after recording $222.64 million in net outflows. Data from SoSoValue showed BlackRock\u2019s IBIT accounted for the largest withdrawal, posting $212.45 million in net outflows during the session.<\/p>\n<figure class=\"wp-block-image size-full is-resized\"><figcaption class=\"wp-element-caption\">Source: <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/sosovalue.com\/assets\/etf\/us-btc-spot\" target=\"_blank\" rel=\"nofollow\">SoSoValue<\/a><\/figcaption><\/figure>\n<p>Even with the daily withdrawals, cumulative net inflows across U.S. spot Bitcoin ETFs stood at $51.15 billion, while total net assets remained at $70.95 billion. Daily trading volume reached $2.53 billion, indicating that investors continued to trade actively despite the temporary pullback in fund flows.<\/p>\n<p>The ETF withdrawals also coincided with Bitcoin struggling to reclaim key technical levels. On the 4-hour chart, the cryptocurrency traded near $60,100, just above the 23.6% Fibonacci retracement around $60,065, while remaining below the Supertrend resistance near $60,900. A descending trendline connecting lower highs since mid-June continued to cap rallies, leaving sellers in control unless buyers reclaim nearby resistance.<\/p>\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1827\" height=\"954\" src=\"https:\/\/bitunikey.com\/news\/wp-content\/uploads\/2026\/07\/1782935589_640_CZ-shrugs-off-ETF-exodus-with-1-million-Bitcoin-call.webp.webp\" alt=\"Bitcoin 4-hour chart showing price below Supertrend resistance, testing the 23.6% Fibonacci level as a descending trendline caps the recovery.\" class=\"wp-image-14471135\"  ><figcaption class=\"wp-element-caption\">Bitcoin 4-hour price chart \u2014 July 1 | Source: crypto.news<\/figcaption><\/figure>\n<p>If buyers manage to break above the Supertrend and the descending trendline, Bitcoin could target the 38.2% Fibonacci level near $61,444, followed by $62,559 at the 50% retracement. A sustained move beyond those barriers would expose the 61.8% Fibonacci level around $63,673, with the 78.6% retracement near $65,261 becoming the next major upside objective.<\/p>\n<p>On the downside, losing the $60,065 Fibonacci support could increase selling pressure toward the recent swing low around $57,835. A break below that level would invalidate the current rebound attempt and leave Bitcoin vulnerable to a deeper decline if buyers fail to step in.<\/p>\n<p>Momentum indicators, however, hinted at improving conditions. The MACD histogram has turned positive and the MACD lines have started curling higher, suggesting bearish momentum is fading even though a confirmed bullish trend reversal has yet to develop.<\/p>\n<p>For now, Bitcoin\u2019s short-term direction may depend on whether institutional demand returns after the latest ETF outflows.<\/p>\n<p>A recovery above nearby resistance could strengthen the case for a move toward the mid-$63,000 region, while another rejection may keep attention on support near $57,800. Zhao\u2019s $1 million forecast, meanwhile, continues to rest on a much longer timeline driven by rising global Bitcoin ownership rather than short-term fund flows.<\/p>\n<div class=\"cn-block-disclaimer\">\n<div class=\"cn-block-disclaimer__icon\">\n            <svg class=\"icon icon-info\" aria-hidden=\"true\"><use xlink:href=\"#icon-info\"><\/use> <\/svg>        <\/div>\n<p class=\"cn-block-disclaimer__content\">\n            Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.        <\/p>\n<\/p><\/div>\n<p><!-- .cn-block-disclaimer --><\/p>\n<p>    <!-- .cn-block-related-link --><\/p><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin has remained under pressure after U.S. spot ETFs recorded $222.64 million in outflows, while Changpeng Zhao has reiterated his belief that the cryptocurrency can reach $1 million over the&hellip;<\/p>\n","protected":false},"author":1,"featured_media":33272,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-33615","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/33615","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=33615"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/33615\/revisions"}],"predecessor-version":[{"id":33616,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/33615\/revisions\/33616"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/33272"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=33615"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=33615"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=33615"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}