Experts from the analytical company Matrixport stated that Bitcoin could quickly surpass the $100,000 mark if new capital flows into the cryptocurrency market.
After BTC surpassed the $90,000 mark, the narrative of the asset as a tool for hedging political instability and uncertain U.S. monetary policy became more stable, experts from Matrixport explained.
"Liquidity in the cryptocurrency market is improving, and new capital is starting to flow into the market — this is a positive trend. After two months of sideways movement with a slight upward trend, we are seeing the first signs of active inflow of fiat funds into cryptocurrencies," analysts reported.
According to experts, such an increase in inflows in November became a catalyst for the rapid rally of the first cryptocurrency, and the situation may repeat itself in the coming months.
Currently, the rise in the Bitcoin exchange rate looks more stable compared to previous cycles. The appetite of investors for risk is driven by the growing attention to cryptocurrency from traditional financial institutions, explained Matrixport.
The publication of macroeconomic data and corporate earnings reports in the U.S. this week could be crucial for maintaining the BTC trajectory of 'only up', analysts noted.