- 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.
disclaimer read moreCrypto News Land, also abbreviated as "CNL", is an independent media entity - we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.
