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Analysis: Whales and ETFs Drive BTC Back into Bull Market, Target Price by Year-End May Range from $160,000 to $200,000
According to PANews, CryptoQuant data shows that since July, the market demand for Bitcoin driven by whales and ETFs has been quietly increasing, currently reaching about 62,000 coins per month, similar to the significant price increases in the fourth quarters of 2020, 2021, and 2024. As the Bitcoin price breaks through the key threshold of $116,000, it may signal that Bitcoin has re-entered a 'bull market' phase, with the target price for the fourth quarter potentially rising to between $160,000 and $200,000.
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