After reaching a new all-time high, expectations for Bitcoin have risen even higher.
Polymarket Investors: Bitcoin can reach $115,000 in 9 days
Predictive crypto market traders are assessing a 64% chance that major cryptocurrencies will reach $115,000 over the next nine days, an impressive increase from last week’s 14%.
Bitcoin surged past its previous high of $108,000 on Wednesday, surpassing its $110,000 level, causing new investors’ benefits. BTC has been rebounded nearly 50% over the past two months, and has held a strong rally in early April, starting at a low of $74,500.
“To reach these levels for Bitcoin is a result of a strategic accumulation against market stress expectations,” said Crypto analyst Noelle Acheson.
ETF demand and institutional flows take priority
Etoro Australia analyst Reece Hobson said this week’s rally was driven by an increase in global liquidity and a surge in capital to spot Bitcoin ETFs, with nearly $3 billion influx of facilities increasing Bitcoin prices in May alone.
Bitcoin is seen as both a risky investment vehicle similar to technology stocks and a safe haven like gold, creating a unique “double story” for investors. This approach is said to create a “floor” where prices go down.
Over the past two months, large Bitcoin investors have played a key role in price growth, providing around $122 billion worth of BTC to the market. This trend in accumulation is interpreted as a preparation for an increase in economic uncertainty.
“What’s happening now could be a wave of accumulation by both short-term risk aversion investors and long-term safe shelters,” Acheson said, summarizing the dynamics of the market.
Year-end estimates are up to $150,000
ARI10 CEO Mateusz Kara said Bitcoin could see $150,000 this year, and factors such as reductions in the US Federal Reserve and reduced political uncertainty are effective in this scenario.
Standard Chartered analyst Geoff Kendrick predicts Bitcoin could reach $120,000 by the end of the quarter. According to Hobson, if the market volume is strong, BTC could rise to $155,000.
But there is a warning too
CEX.IO analyst Illia Otychenko turned his attention to a 36% decline in the derivatives market and a 29% decline in the spot market last month, highlighting the need to pay attention to the permanence of this increase.
“The market is stuck between upward momentum on the one hand and structural weakness on the other,” Otichenko said, saying the coming weeks could be marked by sudden, sharp movements.
*This is not investment advice.