- Bitcoin nears its all-time high of $103,679, trading at $101,835.76, with potential to surge 10-12% if $103,000 resistance breaks.
- Spot Bitcoin ETFs see $5.3B inflows in 13 days, with BlackRock’s ETF leading, holding over 500,000 BTC and driving institutional demand.
- Rising geopolitical tensions and Trump’s election victory contribute to Bitcoin's upward momentum as a safe-haven asset.
Bitcoin is edging closer to its all-time high, creating significant excitement among investors. The cryptocurrency has been steadily climbing, supported by strong bullish momentum.
As of now, Bitcoin is trading at approximately $101,835.76, just 1.7% away from surpassing its record high of $103,679. Analysts suggest a breakthrough could trigger a substantial rally, marking another milestone for the digital asset.
Momentum Builds for a Potential Breakout
In the recent past, renowned trader Captain Faibik has identified a clear upward trend in Bitcoin's price movements. The cryptocurrency has consistently formed higher lows, supported by an ascending trendline that highlights robust bullish momentum.
According to Faibik, if Bitcoin sustains its current trajectory and breaches the $103,000 resistance level, it could rally further by 10-12%. This would propel Bitcoin’s price toward $113,000, setting a new benchmark for the crypto market.
Notably, the potential breakout is seen as a significant development that could strengthen Bitcoin’s position as the leading digital asset. Market experts believe that such a rally would solidify confidence among investors, particularly as the cryptocurrency market faces increasing scrutiny and competition from emerging technologies.
Institutional Demand Drives Bitcoin’s Surge
Recently, institutional interest in Bitcoin has been a key factor in its performance. Spot Bitcoin ETFs have witnessed massive inflows for 13 consecutive days, adding over $5.3 billion between late November and mid-December.
Moreover, BlackRock’s Bitcoin ETF, in particular, has garnered attention by accumulating more than 500,000 BTC. This has made it the most traded ETF among its competitors. This surge in institutional demand underscores growing confidence in Bitcoin as a reliable asset.
Additionally, Wall Street’s increasing engagement reflects a shift in perception, where Bitcoin is no longer seen as a speculative investment but as a long-term store of value. The consistent inflows into ETFs demonstrate the appeal of Bitcoin as a hedge against market volatility and economic uncertainty.
Geopolitical Events Add Momentum to Bitcoin’s Rally
Furthermore, rising geopolitical tensions and Donald Trump’s recent presidential victory have further fueled Bitcoin’s upward trajectory. Historically, Bitcoin has been viewed as a safe-haven asset during periods of political uncertainty. The current geopolitical climate appears to have reinforced this trend, driving additional interest in the cryptocurrency.
Therefore, as Bitcoin moves closer to its all-time high, the market remains optimistic about its potential. Analysts continue to monitor key levels and trends that could shape the cryptocurrency’s trajectory in the coming weeks.
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