#BTCBackto100K Bitcoin's current price is $103,022.31, having increased by 3.68% recently. It's likely heading back to $100,000 after logging four consecutive weeks of gains. Here's what's driving this momentum ¹ ²:
- *Institutional Demand*: US Bitcoin spot ETFs recorded a $1.13 billion inflow, continuing a three-week streak. Arizona's bill to invest state funds in Bitcoin could set a precedent for other states.
- *Corporate Demand*: Companies like Metaplanet and MicroStrategy are strengthening their Bitcoin reserves. Metaplanet issued $24.7 million in interest bonds to buy more BTC, while MicroStrategy raised $21 billion for further acquisitions.
- *Market Sentiment*: Analysts predict Bitcoin will reach $100,000, citing growing institutional appetite and a robust US economy. However, some warn of potential corrections due to high open interest in derivatives and macroeconomic uncertainty.
*Key Price Levels:*
- *Resistance*: $97,700 and $100,000
- *Support*: $95,000
*Expert Predictions:*
- *Lennix Lai (OKX)*: Beyond $100,000
- *Josh Gilbert (eToro)*: $100,000
- *Pav Hundal (SwyftX)*: $103,000
- *Ki Young Ju (CryptoQuant)*: $58,974 (bearish outlook due to overheated derivatives)
Keep an eye on these factors as Bitcoin navigates its path to $100,000 ³.
