Bitcoin Approaches $100,000: A Frenzied Buying Race and Warnings of a Sudden Correction.
The price of Bitcoin has surged above $94,000, driven by a broad wave of institutional buying and increasing interest from retail investors, amid warnings of a potential price peak.
According to the analytics platform Santiment, the sentiment of 'fear of missing out' among small traders has risen after the rapid increase, which is often a precursor to corrective movements. In contrast, major wallets have added over 50,000 Bitcoins since March, reinforcing the upward momentum.
Data from CryptoQuant revealed that Bitcoin outflows from exchanges reached their highest levels in over two years, indicating a trend of investors moving towards safe storage. The inflows of U.S. Bitcoin funds amounted to $2.68 billion in a week, reflecting a surge in institutional interest.
Technically, Bitcoin has surpassed a key resistance at $87,724, and indicators suggest the possibility of continued upward movement with some short-term volatility..
