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Bitcoin at record high: Buyers drive price to new heights!
Bitcoin market strengthens after record high, institutional buying increases, and new projects like BTCBULL gain traction.
Bitcoin at record high: Buyers drive price to new heights!
The Bitcoin market is currently solid and has reached a record high of around $112,000. Although there has been a moderate pullback since then, it is considered part of the ongoing uptrend. Wall Street Online reported that profit-taking remained limited at the beginning of the week, which is interpreted positively.
An important group of investors has increased their purchases of Bitcoin (BTC) at this time, supporting bullish forecasts. Long-term holders are exhibiting strong HODL behavior and selling activity is at its lowest level since September 2024, while 300,000 BTC were added by these holders in the last 20 days. Such accumulation phases are considered a bullish signal because they reflect confidence in future price developments.
Accumulation and ETF inflows
In the last 30 days, Bitcoin ETFs have seen net inflows of over 75,000 BTC. These inflows statistically correlate with sustained price increases and drain liquidity from the market, increasing buying pressure. According to one model, the fair value of Bitcoin is currently between 105,000 and 125,000 US dollars. Around 32 percent of market participants expect a new all-time high before the end of the month, with the majority aiming for a target of $115,000.
The total market capitalization of the crypto market has increased from $2.9 trillion to over $3.5 trillion in a month. Over $600 billion of new capital flowed into the crypto market during this period. Bitcoinist highlights that yesterday alone, $934.8 million (8,530 BTC) was purchased through Bitcoin Spot ETFs, exceeding the daily accumulation by these ETFs over $2.5 billion in the last week.
Current market development
The Bitcoin price is stable, but is below its highs and is moving in a narrow range. lower probabilities for significant price movements towards $125,000 or $150,000 are emerging. However, analysts expect the rally to continue, with some projecting Bitcoin prices as high as $200,000 by the end of the year.
Additionally, the new project BTCBULL has gained attention. It has already raised $6.5 million in presale and is structurally linked to the price development of Bitcoin. The mechanism of this project provides for an automatic response to price increases, causing the supply of tokens to become scarce and distributions to be made in Bitcoin. BTCBULL is offered as a hybrid asset with deflationary elements and an attractive staking option that promises around 65 percent annual returns.
In summary, the Bitcoin market is characterized by both institutional purchases and the growth of Bitcoin spot ETFs. These developments could have a long-term positive impact on the Bitcoin price and further boost the market.