- Bitcoin surpasses $100,000 with a $1.99 trillion market cap and 2.40% daily gain.
- Spot ETFs and $972.6M USDT inflows boost market momentum.
- Whale accumulations signal strong confidence in Bitcoin’s rally.
- Next BTC target set at $111,000, supported by technical patterns and Fibonacci analysis.
Bitcoin has once again captured global attention, crossing the $100,000 milestone and igniting hopes of a new all-time high (ATH). Multiple factors are driving this bullish momentum, from institutional inflows to strategic whale activity, painting a vibrant picture of market confidence.
As of now, BTC is trading at $100,703, reflecting a 24-hour increase of 2.40%. The trading volume soared to $130.10 billion, while its market capitalization reached an impressive $1.99 trillion, securing a dominant 54.54% market share.
Bitcoin’s $100K Rally Fueled by ETFs, Whales, and Tether Inflows
Data from SoSoValue revealed that Bitcoin spot ETFs have seen consistent inflows for the past 10 days. On December 11, the total net inflow was $223 million, with Fidelity’s Bitcoin ETF (FBTC) leading the charge with a staggering $122 million in a single day. These numbers underscore the growing institutional interest, which is a key driver of BTC’s upward momentum.
Whale accumulation has also added fuel to Bitcoin’s rally. According to Lookonchain, a significant player in the market recently acquired an additional 201.78 BTC, valued at $20.33 million, after Bitcoin reclaimed the $100,000 mark. This brings the whale’s total holdings to 1,502 BTC, or $152 million, accumulated since November 24.
The liquidity injection from Tether has been another pivotal factor. Lookonchain reported that $972.6 million USDT flowed from the Tether Treasury to exchanges within the last 24 hours. Such substantial movements of stablecoins often precede heightened market activity, bolstering BTC’s trajectory.
Bitcoin Charting the Path Towards $111,000
Technical indicators suggest further upside potential. The Descending Broadening Wedge pattern previously highlighted by market observers has played out as expected, with BTC achieving an intermediate target of $95,000. The next target, based on the 200% Fibonacci extension level, points to $111,000.
BTC’s latest surge is a testament to the synergy between institutional confidence, strategic accumulation, and robust market liquidity. With these factors in play, the crypto market seems poised for a thrilling end-of-year rally.
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