Crypto News

Bitcoin Nears $100K As Institutional Confidence Grows

Bitcoin continues its march toward the elusive $100,000 milestone, hitting an all-time high of $99,850.

As it nears this psychological barrier, limit sell orders are being triggered, and many in the market believe it’s only a matter of time before Bitcoin crosses the six-figure threshold.

However, long-term Bitcoin holders appear to be taking a cautious approach. Since October, they have offloaded 128,000 BTC, indicating a wave of profit-taking as Bitcoin edges closer to the $100K mark. Whether this is cautious optimism or nerves taking hold, the market remains uncertain.

Meanwhile, a massive transfer of 31,000 BTC (valued at $3.038 billion at an average price of $98,000) to a cold wallet by Deribit signals institutional confidence in Bitcoin’s long-term prospects.

By reducing liquidity, this move has bolstered bullish sentiment and underscored the growing faith of major players in Bitcoin’s future.

Bitcoin Price Predictions And How It’s Going 

Arthur Hayes, a prominent crypto advocate, recently predicted that Bitcoin will hit $100,000 by the end of this year and could soar to $250,000 by 2025. He also forecasted Dogecoin reaching $1. Hayes advised first-time bull market participants to stay level-headed and ensure they take profits at the right time.

Institutional interest in Bitcoin is also surging. On November 22, Bitcoin spot ETFs recorded a total net inflow of $490 million, marking five consecutive days of strong demand. BlackRock’s ETF (IBIT) alone saw a $513 million inflow in a single day. Currently, the total net asset value of Bitcoin spot ETFs stands at $107.488 billion.

With rising institutional activity, strong technical performance, and bullish market sentiment, Bitcoin’s journey toward $100K appears increasingly inevitable. The question now is how much further it can climb.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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