Bitcoin Surges Past $107,700: Next Target at $140,000?
Bitcoin (BTC) has reached a remarkable milestone, breaking through its all-time high and surpassing $107,700, with analysts and market experts projecting continued bullish momentum in the near term.
Strong institutional investment, spot ETF inflows, and rising expectation of possible regulation changes help to explain the recent spike in cryptocurrencies.
Institutional Investors’ Buying Spree Signals Rising Confidence in BTC
Still showing unflinching faith in Bitcoin BTC/USD are big business investors. While Semler Scientific bought 211 BTC for $21.5 million, MicroStrategy lately acquired 15,350 BTC for $1.5 billion at an average price of $100,386 per coin. These significant outlays show the increasing institutional hunger for the digital asset.
Over the previous thirty days, independent analyst Willy Woo notes more than $3 billion entering the Bitcoin network everyday, highlighting the strong demand in the market.
Bitcoin ETF Inflows Show Strong Growth
Spot Bitcoin exchange-traded funds (ETFs) have been a consistent catalyst for the cryptocurrency’s ascent. According to SoSoValue, the week ending December 12 saw $2.17 billion in ETF inflows, bringing total net assets to $114.97 billion. Timothy Peterson, an independent Bitcoin researcher, suggests the price is likely headed to $115,000 based on these fund flows.
Bitcoin Price Predictions Range From $140K to $800K
Market analysts are increasingly bullish, with several notable predictions:
- Bitcoindata21 considers $140,000 a “base case” for Bitcoin’s first major consolidation period, potentially occurring by mid-January
- Some analysts, including Peter Brandt, see the Bitcoin to gold ratio potentially reaching 89 to 1
- More ambitious projections from analysts like PlanB suggest Bitcoin could reach $500,000 in 2025, with potential peaks up to $1 million
The possible election of Donald Trump has given Bitcoin’s prospects still another level of excitement in the crypto market. According to reports, Trump might consider a national Bitcoin reserve; some speculating on this could drastically affect the value of the cryptocurrency.
BTC/USD Technical Indicators and Market Dynamics
As of December 16, Bitcoin’s open interest has surged to new all-time highs—$67.38 billion Especially, funding rates are somewhat constant, indicating traders’ measured attitude even with the notable price shift.
Already showing remarkable performance in 2024, BTC has surged over 136%, with more than half of those increases following the most recent election.
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