Crypto analyst: 115,000 USD is the next target for Bitcoin

Bitcoin has managed to reach a new all-time high of 107,700 USD. This is a remarkable price in itself, but many analysts are extremely bullish on BTC in the short term . What is striking is that BTC rise occurred while trading volumes on the spot markets increased massively and the Coinbase Premium returned during US trading hours.

Robust US trading session

The strong trading session in the United States, which saw large amounts of BTC being bought, followed an explosive weekend of intense price action. This weekend, we saw spot markets on Binance break through the sell walls at 103,000-104,000 USD.

In addition to the good performance of the spot markets, there was also positive news from MicroStrategy and Semler Scientific. Both companies continued to increase their BTC holdings.

Semler Scientific, the smaller company, bought 211 BTC for 21.5 million USD at a rate of 101,890 USD per coin. MicroStrategy, on the other hand, acquired 15,350 BTC for a total of 1.5 billion USD at a rate of 100,386 USD per coin.

MicroStrategy has acquired 15,350 BTC for ~$1.5 billion at ~$100,386 per #bitcoin and has achieved BTC Yield of 46.4% QTD and 72.4% YTD. As of 12/15/2024, we hodl 439,000 $BTC acquired for ~$27.1 billion at ~$61,725 per bitcoin. $MSTR https://t.co/SaWLNBVkrl

— Michael Saylor⚡️ (@saylor) December 16, 2024

3 billion USD in daily Bitcoin inflows

According to independent market analyst Willy Woo, the rise in BTC price is relatively easy to explain. He states that over 3 billion USD in capital flows into BTC every day.

The last 30 days has seen more than 3 BILLION DOLLARS per day entering the #Bitcoin network. pic.twitter.com/2ZqovhA9WL

— Willy Woo (@woonomic) December 16, 2024

Robust daily inflows into spot Bitcoin ETFs have also been a consistent catalyst for BTC rise to new all-time highs. According to data from SoSoValue, inflows last week totaled 2.17 billion USD, bringing the ETFs’ total assets to 114.97 billion USD.

According to BTC researcher and investor Timothy Peterson, the BTC price is likely to rise to 115,000 USD based on these capital inflows.

Based on ETF fund flows, #Bitcoin is headed to $115k pic.twitter.com/HqThvxB1mV

— Timothy Peterson (@nsquaredvalue) December 16, 2024

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Margharet Tess

Editor, Developer at Cryptheory Labs

I have been active in the cryptocurrency world for over 6 years, during which I have written countless articles about this sector. What fascinates me most about cryptocurrencies is their technological aspect and the problems they aim to solve. In the past three years, I have ventured into app development and am currently working on a larger project called P2E Buzzer. Stay tuned for the surprise. 🙂 My previous experiences: Business2Community.com, TradingPlatforms.com

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