Bitcoin at $100,000: the forecasts that make the next big bull possible

Bitcoin is approaching the milestone of $100,000 according to forecasts, supported by inflows into ETF funds, miner accumulations, favorable macro trends, and the confidence of global investors. In this article, we see why this goal is increasingly concrete.

Global dynamics and macro factors: the forecasts for Bitcoin amid economic turbulence

The journey of Bitcoin towards the symbolic milestone of $100,000 seems increasingly inevitable, fueled by global dynamics, market innovations, and changes in investor perceptions. 

Among the record inflows into dedicated ETFs, the accumulation of large quantities of BTC by companies like MicroStrategy, and the global economic uncertainty, Bitcoin confirms itself as a crucial asset in the financial landscape.

The inflows into exchange-traded funds (ETF) dedicated to Bitcoin continue to strengthen the market, indicating a growing institutional adoption.

November 27 marked a clear trend reversal, with $103 million in net inflows, concentrated mainly on funds like Fidelity’s FBTC and Bitwise’s BITB. 

This recovery follows significant outflows in the previous days, but the market’s ability to absorb and overcome these fluctuations demonstrates the strength of the bull sentiment.

Furthermore, the approval and success of spot ETFs dedicated to Bitcoin strengthen investor confidence, offering a regulated and accessible exposure to the asset. 

The institutional interest, highlighted also by the participation of giants like BlackRock, represents a strong signal of the maturation of Bitcoin as an investment class.

MicroStrategy, leader in corporate adoption of Bitcoin, plays a crucial role in the push towards $100,000. 

Currently holding 331,200 BTC, the company has declared its intention to continue accumulating, aiming to control about 4% of the total supply by 2033. 

This strategy is supported by the issuance of debt and shares, which allows the company to increase its reserves without compromising its financial stability.

The impact of MicroStrategy’s accumulation goes beyond the numbers: it sends a clear message of confidence in Bitcoin, encouraging other investors to follow the example.

The confidence of miners and on-chain data

Another element that supports the bull trend is the behavior of the miners. After a period of average outflows lasting ten days, the deposits to addresses controlled by the miners have increased. 

This change suggests that miners are holding onto their BTC, signal of confidence in the continuation of the bull market.

According to Glassnode, the 30-day average revenue of miners is 476 BTC. This data indicates that, despite operating expenses, miners prefer to accumulate rather than sell, strengthening the overall market liquidity.

Furthermore, on-chain data shows a growing interest from investors, with transaction volumes and active addresses on the rise. These signals further strengthen the narrative of Bitcoin as an asset destined for new highs.

The global macroeconomic context represents an additional catalyst for the growth of Bitcoin. In Europe, the increase in French public debt yields and political difficulties highlight a climate of economic uncertainty. 

With a budget deficit estimated at 6.1% for France in 2024, exceeding the fiscal limits of the eurozone becomes inevitable.

At the same time, Russia is facing a currency crisis with the ruble at its lowest since 2022 and interest rates at 21% to counter inflation.

This scenario of instability drives investors to seek safe havens, and Bitcoin, with its predictable monetary policy and resistance to censorship, emerges as a natural choice.

In the United States, the disconnection between Bitcoin and traditional markets is becoming evident. 

While the yields of 2-year Treasury securities show volatility, Bitcoin has recorded a 5% rally in two days, recovering the $95,000 threshold and demonstrating its ability to operate independently of traditional market dynamics.