Bitcoin extended its spectacular rally overnight by setting a new all-time high above 107,700 USD. This surge was driven by a stable increase in spot trading volume and the re-emergence of Coinbase Premium during trading in the United States.
1-hour Bitcoin price chart | Source: TradingView
Bitcoin's explosive momentum
The US trading session recorded strong buying activity, continuing the explosive price trend from the weekend. On Sunday, December 15, significant buying pressure on Binance, along with substantial perpetual futures trading volume on KuCoin, pushed the price of Bitcoin above the resistance level of 103,000–104,000 USD.
4-hour BTC/USDT chart on Binance | Source: TRDR.io
In addition to the increased buying volume, positive information from large Bitcoin purchases by MicroStrategy and Semler Scientific helped reinforce market sentiment. Specifically:
Semler Scientific purchased 211 BTC for a total value of 21.5 million USD, corresponding to a price of 101,890 USD per BTC.
MicroStrategy continues its accumulation strategy, buying an additional 15,350 BTC for a total price of 1.5 billion USD, at a price of 100,386 USD per BTC.
Capital inflow into the market surged significantly
According to independent market analyst Willy Woo, over the past 30 days, more than 3 billion USD per day has flowed into the Bitcoin network. This figure reflects strong and ongoing demand from investors for BTC at the moment.
The inflow from spot Bitcoin ETF funds also plays a crucial catalytic role. Data from SoSoValue shows that in the week ending December 12, Bitcoin ETFs attracted capital inflows of up to 2.17 billion USD, raising total net assets to 114.97 billion USD.
Independent Bitcoin investor and researcher Timothy Peterson stated that with strong inflows from ETF funds, the price of Bitcoin is very likely to soon reach 115,000 USD.
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