Bitcoin (BTC) reached a new all-time high of $99,419, just inches away from the $100K milestone and has rallied over 9% so far this week.
Bitcoin continued its rally this week and rose to within touching distance of the 100K landmark level on Friday. Bitcoin spot ETFs saw an inflow totaling $2.84 billion until Thursday, while ETF options trading was also launched. Standard Chartered’s analyst expects Bitcoin to hit $125K by the end of the year, fueled by expectations of positive regulatory changes in the United States.
” “As we continue to see strong demand for BTC alongside further easing of monetary policy by global central banks, BTC prices are likely to remain supported as we approach the end of the year,” says QCP’s analyst. Bitcoin derivatives market adds fuel to the rally The Bitcoin derivatives market also supported its rally this week. Professional-grade cryptocurrency derivatives platform Deribit shows that BTC’s three out of seven futures contracts traded higher than $100,000.
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