Bitcoin surged past $85,000 this week, reigniting discussions among investors about its potential trajectory toward the $100,000 milestone. The rally marks Bitcoin’s highest level since early March, driven by improving macroeconomic conditions and renewed institutional interest. Analysts point to a confluence of factors behind the price surge, including shifts in U.S. monetary policy, bullish whale activity, and regulatory optimism.
The Federal Reserve’s decision to maintain steady interest rates at 4.25%-4.50% provided stability for risk assets, with Bitcoin breaking key resistance levels shortly after the announcement. Institutional inflows into Bitcoin ETFs have also rebounded, totaling $512 million over three consecutive days—the first sustained positive streak since January. On-chain data highlights a 40% spike in large transactions exceeding $100,000, signaling heightened activity from high-net-worth investors and institutions. Meanwhile, easing geopolitical tensions, such as a tentative Ukraine ceasefire and Ontario’s removal of electricity export tariffs, have further bolstered market sentiment.
Experts remain divided on Bitcoin’s short-term prospects. Lennix Lai, global chief commercial officer at OKX, argues that Bitcoin could surpass $100,000 by year-end, citing accelerating institutional adoption and ETF demand. However, he cautioned that macroeconomic uncertainties, including potential U.S. government spending cuts and inflationary pressures, could fuel volatility. Technical analysts note that Bitcoin’s ability to hold above $85,000 will be critical. Aksel Kibar, a certified market strategist, described the recent rally as a “harsh retest” of support levels, emphasizing that sustained closes above $85,000 are necessary to confirm a bullish trend.
While regulatory clarity under the Trump administration and SEC enforcement changes have lifted optimism, skeptics warn of lingering risks. The SEC’s ongoing scrutiny of crypto assets and unresolved geopolitical conflicts could derail momentum. Despite these concerns, Bitcoin’s resilience above $85,000 suggests growing confidence among traders, with many positioning for a potential assault on the $90,000 resistance level in the coming weeks.
Sources:
https://www.cointribune.com/en/bitcoin-skyrockets-to-85k-is-this-the-next-breakout/
https://cointelegraph.com/news/100k-bitcoin-analysts-btc-price-prediction
https://cryptomus.com/blog/bitcoin-reclaims-85k-will-it-recover-to-90k-news
https://www.investopedia.com/bitcoin-price-tops-usd100-000-again-cpi-news-regulatory-optimism-8775273
https://thecurrencyanalytics.com/bitcoin/bitcoin-holds-at-85k-amid-market-recovery-165182
https://www.financemagnates.com/cryptocurrency/will-bitcoin-reach-100k-experts-say-btc-price-prediction-for-2024/
