【Bitcoin ETF inflows hit record $6 billion; analysts set target at $100,000】
Bitcoin ETF inflows have reached a new high, indicating that a breakthrough of $100,000 is imminent, with institutional funds playing a significant role.
In November, Bitcoin ETF inflows reached $6.1 billion, marking the highest monthly record since the launch of the spot Bitcoin ETF in January, showcasing investors' increased confidence in this asset and a tendency to opt for safer regulated ETFs. As institutional interest continues to grow, this trend may persist into December, further driving Bitcoin prices to new highs.
The influx of ETF funds shows an enhanced appeal of Bitcoin as a regulated market instrument, laying the groundwork for a potential new rally by the end of the year. Analyst Rekt Capital predicts a target price for Bitcoin at $100,068, noting that it has just completed a retest of previous highs and may enter a consolidation phase next.
Currently, the Bitcoin price is $94,940, with support at $89,800. Based on the current bullish momentum, the likelihood of breaking below this level is low. If this support can be maintained, further increases are expected in the coming weeks.
If bullish momentum continues to strengthen, Bitcoin could break through the psychological barrier of $100,000, setting a new all-time high, which would become an important milestone for the market. Meanwhile, the inflow of ETF funds might serve as a key driving force.
However, if Bitcoin fails to break above $100,000 and loses momentum, prices may retreat to the $89,800 support area, further undermining bullish market expectations.