The cryptocurrency market was a party this week! Bitcoin’s price soared to $98,000, just one step away from the legendary $100,000 milestone. To describe this surge as “interesting” would be a bit of an understatement.
So, what is driving Bitcoin's rapid rise? What "mysterious forces" are behind it? Let's find out!
The surge in Bitcoin prices is inseparable from a group of "big players" hidden in the deep sea - whales. They are not ordinary small retail investors, but those who hold at least 10 Bitcoins. According to Santiment data, in the past month, these whales have accumulated a total of 56,397 BTC, which is about $5.4 billion worth of Bitcoin!
But interestingly, despite the increase in the number of bitcoins in the hands of whales, the total number of large wallets with more than 10 bitcoins has decreased by 0.82%. Translated, it means: there are fewer and fewer whales, but each whale is getting fatter. This "trend of wealth concentration in giants" is considered a signal that the market is bullish on the long-term future of Bitcoin.
These whales are not like ordinary investors who rush to chase the rise and fall, but are "lying on straw and tasting gall", with an attitude of "no shipment until there is a bull market". Their patience and determination are the cornerstone of the rise in Bitcoin prices.
If whales are the DJs of this price increase party, then institutional investors are the engineers responsible for making fireworks. Recently, CryptoQuant CEO Ki Young Ju revealed on the social platform X that the Coinbase premium has turned positive again. This means that the purchasing power of American investors for Bitcoin has exploded again!
Institutional capital flows in the United States can be said to be one of the key drivers that pushed Bitcoin close to the psychological barrier of $100,000. In particular, the craze for Bitcoin ETFs has simply given the market a boost. According to statistics, more than $4 billion has been invested in US Bitcoin ETFs since Trump was elected president. This not only consolidates Bitcoin's position, but also allows it to transform from a "digital currency" to a "mainstream asset class."
After being elected president, Trump proposed a bold goal: to make the United States the "crypto capital of the earth." This wave of operations has rekindled investors' expectations for cryptocurrency-friendly policies and further boosted market sentiment.
A clear regulatory framework, a friendly policy environment, and global investors' trust in the United States have provided another boost to Bitcoin's rise. Against this backdrop, Bitcoin's move toward $100,000 seems to no longer be a question of "if it will happen," but "when it will happen."
In the past month, Bitcoin has soared from $81,880 to $98,000, an increase of 19%. Analysts have predicted that as long as institutional demand and market sentiment continue, it is only a matter of time before Bitcoin breaks through the $100,000 mark. The next challenge will be the new targets of $120,000 and $150,000.
Of course, the market is always full of volatility. Experts remind investors not to be carried away by the current rise and to pay attention to potential market adjustment pressure at any time. But what is certain is that the charm of Bitcoin still firmly attracts the attention of whales, institutions and every ordinary investor.
The surge in Bitcoin is like a huge "crypto show", with whales and institutions playing the leading roles, and retail investors can only watch silently. But don't lose heart! The door to the bull market is still open, the key is whether you dare to take that step.
So, my friends, if you are still hesitating whether to buy Bitcoin, please follow me first! Next time I will tell you how to find your own investment opportunities when the market is crazy. Don't forget, if you miss 100,000 once, you may miss 150,000 next time!
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