Bitcoin’s case for trading above $100,000 has become increasingly robust, according to recent insights from industry experts.
As the only trillion-dollar asset in the cryptocurrency market, Bitcoin (BTC) is poised to surpass six figures per coin, driven by institutional interest, macroeconomic trends, and supportive on-chain metrics.
New figures indicate that U.S. spot Bitcoin exchange-traded funds (ETFs) have exceeded $20 billion in total net flows, with the American Bitcoin ETF market now boasting over $65 billion in assets under management. This surge includes $1.5 billion in inflows just this week.
Comparatively, ETFs tied to traditional assets like gold took several years to achieve similar totals, indicating a remarkable demand for Bitcoin products from both retail and institutional investors.
Experts highlight the upcoming U.S. presidential elections as a potential catalyst for Bitcoin’s price increase, particularly with pro-Bitcoin politician Donald Trump leading several betting polls.
There is a prevailing sentiment that Bitcoin’s price could perform strongly, irrespective of the political party in power.
Additionally, the accumulation of Bitcoin by large holders, or “whales,” has emerged as a positive market signal. Recent data reveals an unprecedented buying spree among significant holders, with Bitcoin’s open interest reaching an all-time high of $20 billion. New whale wallets now hold approximately 9.3% of the total Bitcoin supply.
The consensus among cryptocurrency advocates is that liquidity is poised to flow into risk assets soon, bolstered by factors such as seasonal trends, new stock market highs, and anticipated rate cuts from central banks. Historically, Bitcoin has shown a strong performance in the fourth quarter, indicating that a favorable funding rate environment could further enhance this positive trajectory.
