Bitcoin Surges: $100,000 Just the Beginning? Institutional Giants Enter, ETF Demand Soars, Price Could Hit $200,000

Bitcoin Surges: $100,000 Just the Beginning? Institutional Giants Enter, ETF Demand Soars, Price Could Hit $200,000Bitcoin bullish sentiment continues to heat up, with more investors optimistic about the price breaking through $100,000 by the end of the year, fueled by the news of Trump's victory. James Butterfill, Head of Research at CoinShares, points out that positive political momentum, social media hype, ongoing interest rate cuts, and the possibility of Bitcoin becoming a US strategic reserve asset, all provide strong upward momentum for the Bitcoin price

Bitcoin Surges: $100,000 Just the Beginning? Institutional Giants Enter, ETF Demand Soars, Price Could Hit $200,000

Bitcoin bullish sentiment continues to heat up, with more investors optimistic about the price breaking through $100,000 by the end of the year, fueled by the news of Trump's victory. James Butterfill, Head of Research at CoinShares, points out that positive political momentum, social media hype, ongoing interest rate cuts, and the possibility of Bitcoin becoming a US strategic reserve asset, all provide strong upward momentum for the Bitcoin price.

Within the past 24 hours, Bitcoin briefly surpassed $89,000, and at the time of this writing, it has surged nearly 30% in the past seven days, outperforming other assets. Matt Hougan, CIO of Bitwise, says that despite more investors trying to join the rally, long-term holders are reluctant to sell Bitcoin below $100,000, and short sellers are hesitant to act due to fear of going against the trend.

Analysts emphasize that so far, there are no signs of a significant pullback or consolidation in Bitcoin, and the bullish momentum remains strong. Bitcoindata21 boldly predicts that Bitcoin's next peak will reach $150,000, and there will not be a major consolidation before that, followed by a pullback to $120,000.

Prominent crypto trader Peter Brandt pointed out on Monday that Bitcoin had already seen a significant buy signal over the weekend, and he hinted that the Bitcoin price would break through the $200,000 mark, the most optimistic prediction so far.

Meanwhile, business intelligence company and major crypto holder Microstrategy bought over $2 billion worth of Bitcoin on Monday. It is reported that as of November 10th, the company's spot Bitcoin investment had achieved a return on investment exceeding 100%.

Bitcoin exchange-traded funds (ETFs) are also experiencing a boom. US-listed Bitcoin ETFs have seen net inflows exceeding $1.5 billion in the past week. Gemini co-founder Cameron Winklevoss emphasized over the weekend that the driving force behind Bitcoin's break above $80,000 was steady ETF demand, not retail sentiment. This provides solid momentum for the rise, and its only just the beginning.

With the entry of institutional giants and the frenzy of ETF demand, multiple favorable factors are driving Bitcoin prices to continue their upward climb. While some analysts expect a price pullback in the short term, most viewpoints believe that Bitcoin prices will continue to maintain a strong upward trend in the coming months.