Large Investor Demand for Bitcoin Accelerating: Could This Push BTC to $100K?

CryptoQuant data shows increasing investor demand for Bitcoin, with wallets holding 1K–10K BTC rising faster than their 30-day average. Bitcoin’s price has experienced significant fluctuations recently, dropping below $75,000. Meanwhile, the BTC price has gained nearly $9,000 from its recent lows, briefly hitting $83,500. Although it couldn't maintain the momentum to climb further, Bitcoin’s current price remains above $81,000 following a minor correction. Its market capitalization now sits at $1.62 trillion, with dominance over alternative crypto surpassing 60%. Amid the recent Bitcoin recovery, large crypto investors are loading their bags. Data from CryptoQuant reveals that the number of wallets holding between 1,000 and 10,000 BTC is growing faster than the 30-day average.  This trend is considered bullish, reflecting strong investor confidence in Bitcoin’s future. These investors, typically excluding exchanges and mining pools, are often seen as key players in maintaining Bitcoin’s value as both an investment asset and a store of value. Furthermore, the rise in the balance of these large holders coincides with Bitcoin’s recent price increases. As Bitcoin pushes above $81,000, the market seems resilient despite external market pressures. https://twitter.com/cryptoquant_com/status/1910321134681129450 Analysts Predict Bitcoin Future Movement With the evident rising metrics, various analysts have offered insights into Bitcoin’s potential trajectory. Enzy Bitcoin, an analyst active on X, points out that every time Bitcoin fills a price gap, it tends to bounce upwards.  He highlighted the recent gap between $70,000 and $75,000, suggesting that Bitcoin may see a substantial price increase, possibly reaching $130,000 soon. This pattern has been consistent in the past, giving analysts confidence in Bitcoin’s ability to rebound after filling these price gaps.

In addition, BitBull, another prominent analyst, compares Bitcoin’s current behavior to the recent volatility in U.S. stock markets. While traditional markets struggle, Bitcoin has remained steady above $80,000, showcasing its dominance and resilience. With Bitcoin holding firm, some analysts believe that anything under $100,000 could still be seen as an opportunity for investors. BTC Long-Term Growth Meanwhile, analyst Carl Moon recently offered an optimistic long-term outlook for Bitcoin. He explains that understanding market cycles is crucial, especially during periods of price fluctuations like those seen in a bear trap. Moon anticipates that Bitcoin could soar to $500,000 while top altcoins might also see significant growth.