Why Bitcoin Is About to Break All Records and Leave You in the Dust

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So, Bitcoin’s been on a bit of a rollercoaster, huh? This week, it just breezed past a major resistance level at $97,000, which, I have to say, is pretty impressive for a cryptocurrency that’s been having an identity crisis for a few months. It’s hit its highest point since February—no big deal, right? But wait, it’s up 30% from April’s lowest point, so maybe it’s time we all start paying attention, unless you’ve been living under a rock, of course.

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Right now, Bitcoin (BTC) is trading around $96,500—looking pretty sweet, especially for anyone who had the foresight to invest back in the day. So, what’s got Bitcoin climbing the charts like it’s the next big thing? Well, let me break it down for you, in case you’re still pretending you don’t care. Here are the top 3 reasons why Bitcoin might just hit a new all-time high this year.

1. Bitcoin Supply on Exchanges? Plummeting!

Hold on to your hats, folks. The first big thing is that Bitcoin on exchanges is dropping faster than your favorite show’s ratings after a bad season finale. Right now, only 1.42 million Bitcoin are sitting on centralized exchanges, the lowest it’s been since 2018. And you know what that means? People aren’t exactly rushing to sell. Meanwhile, Bitcoin that’s not on exchanges? It’s at a whopping 18.43 million coins—people are hoarding their Bitcoin like it’s the last piece of bread in the apocalypse.

Even the big players like Michael Saylor, who holds a hefty chunk of Bitcoin (over 2% of the total supply, to be precise), aren’t giving up their stash anytime soon. Big companies like Coinbase, Tesla, and Block are basically holding their coins hostage. Nice try if you thought they were going to sell anytime soon, though.

2. Retail & Institutional Demand? Oh, It’s Soaring!

If you thought Bitcoin’s popularity was just a fluke, think again. Retail and institutional demand are pushing it higher than your last online shopping spree. In fact, Bitcoin ETFs are looking pretty strong, despite the fact that there have only been four months of outflows since their debut in January last year. These ETFs have pulled in a jaw-dropping $40 billion in assets. And don’t even get me started on Blackrock’s IBIT, which is sitting pretty at $60 billion. Talk about a serious cash injection.

What’s even more intriguing is that there’s a good chance that the next big demand surge will come from countries looking to distance themselves from the U.S. dollar. Just when you thought things couldn’t get spicier.

So yeah, analysts are getting pretty bullish about this. Standard Chartered thinks Bitcoin could hit $200,000, while Ark Invest is dreaming big with a prediction of $2.4 million by 2030. Forget the moon—Bitcoin’s going straight to Mars, people!

3. The Technicals? It’s Gaining Momentum Like Never Before

If the previous reasons haven’t convinced you, let’s talk technicals. Bitcoin is above that sweet ascending trendline, and it’s been on a steady rise since August last year. It’s also danced past the $88,690 resistance, which is pretty much like breaking through a brick wall. Oh, and it’s also above both the 50-day and 100-day Exponential Moving Averages. If that doesn’t scream “momentum,” I don’t know what does.

It’s almost like Bitcoin is saying, “Hold my beer, I’m going to $100,000 and beyond.”

So, yeah. If you’re not paying attention to Bitcoin right now, you might just miss the party of a lifetime. Let’s be honest: when it hits $100,000, don’t say I didn’t warn you. 🚀

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2025-05-04 00:15