As a seasoned researcher with over two decades of experience in financial markets, I have seen my fair share of market predictions and trends come and go. However, the current bullish sentiment surrounding Bitcoin is hard to ignore, especially given the significant bullish signals from derivatives markets and holder profitability.
By the year 2025, it’s possible that Bitcoin could reach or even surpass the $80,000 price point, based on data suggesting strong bullish tendencies in derivatives markets and holder profitability, as indicated in a report from crypto exchange Bitfinex. This information was made available to CryptoMoon for their perusal.
According to analysts at Bitfinex, the price of Bitcoin (BTC) might surge beyond $80,000 due to the arrangement in the derivatives market. This prediction is based on indications from the options markets suggesting a possible upswing following the U.S. election. They also mentioned:
“Options market positioning indicates that over the past few weeks, end-of-year options have seen a significant rise in call open interest. The December 27th expiry and calls with an $80,000 strike price have been the primary areas of interest.”
On October 28th, Bitcoin broke through the psychological barrier of $70,000 for the first time since June 10th, and its price was only 3.77% below its record high of over $73,800.
Investors are on the hunt for the key indicator that may spark another significant surge in Bitcoin prices following its past post-halving uptrend. This potential trigger might be revealed as soon as next week with the upcoming U.S. presidential elections.
US elections anticipation is driving higher Bitcoin ETF inflows
In the coming elections, there’s an increasing sense of hope among those who invest in Bitcoin ETFs. This optimism could potentially boost the price of Bitcoin.
On October 28th, U.S. Bitcoin ETFs saw a net inflow of approximately $479 million – marking the second consecutive day with inflows exceeding $400 million, according to data from Farside Investors.
Over the last 12 trading sessions, Bitcoin ETF investments have shown significant strength, exceeding a total of $4 billion, as mentioned by Natasha Geraci, President of ETF Store, in her October 29 blog post.
“Over the past 12 trading days, spot BTC ETFs have taken in nearly $4 billion. For context, less than 10% of the 3,800+ ETFs in existence even have $4 billion in total assets.”
Geraci mentioned that, during the last fortnight, BlackRock’s IBIT ETF was responsible for more than $2.6 billion in incoming funds.
In simple terms, if Donald Trump wins the November 5th U.S. Presidential election, many people believe this could be good news for speculative investments such as Bitcoin, because the price of Bitcoin tends to increase as Trump’s chances of winning the election improve, according to analysts at Bitfinex.
Nearly 98% of Bitcoin holders are in profit
With an increase in optimism for cryptocurrency investors, it’s worth noting that approximately 99% of all Bitcoin owners are currently seeing a profit, as the value of Bitcoin surpassed $71,000.
97.6% or more than nine out of ten Bitcoin investors have made a profit on their investment by October 29th, based on the data from CryptoQuant.
On June 5th, more than 97% of all Bitcoin was held at a green, or profitable, level. However, just a month later, the price of Bitcoin had plummeted from over $71,100 to below $56,000.
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2024-10-29 12:34