Bitcoin Above $100,000: New Opportunities for Investors

In recent days, Bitcoin (BTC) has shown significant development by stabilizing above the $100,000 level. This situation is supported by whale purchases that have drawn the attention of investors and the resumption of ETF inflows. Bitcoin has been trading in the $100,000–$103,000 range in the last 24 hours and is currently around $101,500, while analysts believe that this process indicates a transition from panic to positioning.

Timothy Misir, Director of Research at BRN, emphasized that the leverage positions being cleared in the market have calibrated it alongside the resumed ETF inflows and aggressive purchases by whales. Misir stated, "We expect a balancing process rather than a decline." This statement suggests that the uncertainties felt by investors may give way to a more stable market perception.

ETF inflows have completely resumed. U.S. spot Bitcoin ETFs recorded a net inflow of $240 million last Thursday, proving increased interest from institutional investors. During this period, Ethereum ETFs saw $12.5 million, while Solana ETFs experienced a trend of $29 million influx over the past eight days. Misir also pointed out whale behaviors, noting that large investors added approximately 30,000 BTC (around $3 billion) this week, stating that long-term investors are providing structural stability to the market.

Looking at macroeconomic data, it is possible to say that the overall outlook is optimistic. However, the 153,074 layoffs reported in the U.S. in October marked the highest number for that month in the last twenty years. QCP Capital remarked, "The government shutdown in Washington casts a shadow over the overall positive outlook." Additionally, following the Federal Reserve's interest rate cut in October, the probability of a new move in December is around 60%.

In terms of capital rotation, it appears that investors are transitioning from altcoins to Bitcoin and Ethereum, exiting altcoins and restructuring their positions. According to data obtained from FalconX, this situation indicates the potential for Bitcoin’s market dominance to rise again. On-chain data also shows that 71% of the total BTC supply is still in profit, and BTC balances on exchanges continue to decrease.

Despite some institutions lowering their targets, optimism still persists. Galaxy Digital has lowered its year-end Bitcoin target from $185,000 to $120,000, while Ark Invest revised its bullish scenario to $300,000, stating that stablecoins have taken over part of Bitcoin's role. In contrast, JPMorgan predicts that Bitcoin could reach $170,000 in the next 6–12 months due to ETF momentum and expectations of macro easing.