Bitcoin recently achieved an all-time high of $99,595, sparking optimism it might reach the $100,000 milestone. However, volatility has prevented Bitcoin from crossing this psychological threshold. Despite this hurdle, Bitcoin ETFs have seen record inflows, hinting at an imminent push towards the sought-after $100,000 mark.
In November, Bitcoin ETFs recorded a monumental $6.1 billion in inflows, marking the highest ever since their launch. This trend reflects a growing comfort among investors. Choosing the safety of regulated ETFs over direct purchases, institutional support is driving this rally, expected to continue and possibly boost Bitcoin.
Analyst Rekt Capital has set a target for Bitcoin at $100,068, noting a recent consolidation within a bullish pattern. If Bitcoin can maintain this momentum, it seems poised for further price increases, though a fallback to support at $89,800 remains a risk if momentum falters.
Currently trading around $94,940, Bitcoin's critical support lies at $89,800. If bearish trends emerge, prices could retract. However, a sustained bullish trend might finally propel Bitcoin over the psychological $100,000 barrier, marking a significant milestone in its price history.
