Bitcoin Price Forecast: How Institutional Inflows Are Pushing Bitcoin’s Value
Bitcoin Price Surges to $101K – Bitcoin (BTC) achieved a significant milestone on December 11, 2024, as it closed at its highest daily price ever, reaching $101,737. According to data from Cointelegraph Markets Pro and TradingView, BTC/USD sealed the day at approximately $101,200, marking an impressive recovery from local lows earlier in the week around $94,000. This recent surge has reignited excitement, with analysts predicting a potential new all-time high in the coming days.
Analysts Predict Bitcoin’s Continued Bullish Momentum
Michaël van de Poppe, a renowned trader and analyst, highlighted the crucial level for BTC, stating that if the market stays above this level, new all-time highs (ATHs) are likely. This view is supported by a general sense of stability in the market, which accompanied Bitcoin’s latest journey beyond the $100,000 mark. Charles Edwards, founder of Capriole Investments, also noted in a tweet that Bitcoin quietly reached its highest daily close ever, with funding rates below normal and ETFs seeing continuous inflows.
Market Liquidity and Bitcoin Futures
As Bitcoin surges, market liquidity remains healthy, with $270 million worth of liquidations occurring across the crypto market. Despite Bitcoin nearing record highs, Zaheer Ebtikar, co-founder of Split Capital, observed that Bitcoin’s futures basis remained unusually low. The futures basis is the difference between spot and futures prices, and typically, during bull markets, it can spike as high as 30% or more. This indicates that there is less speculation than usual, suggesting a more stable market condition.
Conclusion: Bitcoin’s Strength and Stability
Bitcoin’s remarkable price action in recent days highlights its resilience and potential for further gains. With institutional demand rising and market stability maintaining, many experts anticipate that Bitcoin’s price could soon reach new heights, making 2025 a pivotal year for the asset.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.
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