Bitcoin Price Prediction: Will Next Bull Run Push BTC to $100,000?

Coingapestaff
Coingapestaff

Coingapestaff

Journalist
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Read full bio
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Bitcoin Price Prediction: Will Next Bull Run Push BTC to $100,000?

Highlights

  • Bitcoin price nears major resistance as traders anticipate a potential breakout higher.
  • ETF inflows are highly confident in the market in spite of current price fluctuations.
  • There are signs of a positive trend that is gaining traction and will continue to increase.

Bitcoin price rebounded sharply, climbing above $92,000 following a 7% surge from lows near $86,000. After Monday’s volatility, global markets appear calm, yet investors remain cautious. The current stability of Bitcoin is in contrast with the underlying uncertainty that is fueled by the upcoming Federal Reserve policy meeting.

Bitcoin had a positive trend followed by other significant cryptocurrencies. Ether price regained the value of $3,000, and XRP stood at 5% growth. Solana also gained, which correlates with the overall forces in the crypto market, which increased by 3% within the last 24 hours.

The market mood is now centered on the December 10 rate decision by the Fed. Traders are closely monitoring with anticipation of an 89% cut in the rate. This is further compounded by the secrecy of the low-visibility Federal Open Market Committee (FOMC) meeting and the change in leadership within the Fed.

Also, the U.S. Personal Consumption Expenditures (PCE) data, which is due on December 5, may determine the direction of the market in the near future. Cryptocurrency markets can be highly sensitive to policy signals and inflation rates.

Crypto ETF Flows Reveal Bullish Market Sentiment

Bitcoin funds had good inflows in the previous session. Spot BTC ETFs contributed 2,411 BTC within a single day, which is approximately equal to 222 million. 

The weekly flows were also positive at 1,535 BTC or approximately at the value of $141 million. Such figures indicate a consistent demand in spite of the recent market fluctuations.

Ether products went in the reverse direction. ETH ETFs have left the sector with a sudden one-day withdrawal of 36,108 ETH, and that is around $110 million. The seven-day picture was also relatively positive, but with a slight net intake of 953 ETH valued at approximately 2.9 million. This was a contrast to show a lack of equal investor confidence in Ethereum funds.

Solana ETFs have recorded a significant performance. One-day flows amounted to 280,620 SOL, and it contributed to the value of almost $39 million. 

The weekly flows also reflected strong movements, whereby 271,398 SOL came into the products. These numbers marked the increased interest in the development of the ecosystem of Solana.

Analyst Predicts Bitcoin Price Could Rally to the $100K Mark

According to a crypto analyst, the Bitcoin price is currently testing a key resistance zone following its recent U-turn. He observes that the $93,000 to $94,000 segment is a major challenge to the market.

A clear move above this zone could open the path toward the $100,000 region as a long-term BTC projection remains bullish.

Analyst also cautions that failure at this point can turn the tide. In case the selling pressure moves up, then the price of Bitcoin might fall to the range of $88,000 to $89,000 as one of the support levels. His chart reflects both the cases with possible breakout and pullback paths indicated.

Bitcoin price climbed to around $92,462 following a 5% recovery in the last 24 hours.

The MACD line moved over the signal line, indicating the construction of a bullish movement. The histogram shifted to the positive side, and it signified the reinforcement of strong upward pressure.

Bitcoin Price Prediction: Will Next Bull Run Push BTC to $100,000?
Source: BTC/USDT 4-hour chart: Tradingview

The RSI was at around 62, indicating moderate buying conditions but not in the overbought area. This reading suggested that there could be more upside given that the demand does not decrease.

Advertisement

Frequently Asked Questions (FAQs)

1. What impact will the Federal Reserve's policy have on Bitcoin?

The upcoming Fed meeting and potential rate cuts may influence market sentiment, especially regarding inflation and monetary policy.

2. What are ETF inflows telling us about the market?

Strong ETF inflows for Bitcoin indicate sustained demand and investor confidence, signaling bullish sentiment despite market fluctuations.
coingape google news coingape google news
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

BTC

Bitcoin

$92,648.4608 0.83% (24h)

24 Hours volume

$56.84B

Market Cap

$1.85T

Max Supply

21M

Buy $BTC with MEXC
About Author
About Author
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.