This marks the beginning of Bitcoin's historic climb from $60,000 to just under $100,000. If history repeats itself, Bitcoin's price could break the psychological $100K barrier, driven by whale accumulation.
Bitcoin Open Interest and Long Positions
Before Bitcoin hits $100K, open interest is flooding the market. In crypto, Open Interest (OI) refers to the total number of outstanding derivative contracts (e.g., options or futures) not yet settled. It’s a key metric for measuring market activity and sentiment.
Key Developments:
- MicroStrategy initiated a critical BTC options interest period, disclosing plans to acquire $10.2B in Bitcoin, funded via $42B in equity and debt financing.
- Coinglass data shows BTC’s OI at $62.62B, with 637.18K BTC pending sale.
Charles Edwards, founder of Capriole Investments, noted:
"Gold rose by $3.8T in 16 weeks this summer. Bitcoin moving from $100K to $200K requires just $2T."
He added, "A $100K BTC in 4–12 weeks isn’t surprising—it’s superior, liquid, and tradable 24/7."
Trader Jelle highlighted BTC’s breakout potential:
"When prices escape a multi-month range, they rarely stop after one wave. Expect further discovery into six-figure territory."
The Six-Figure Game
With global monetary income projected to hit $127T by 2025, BTC could attract $2T in investments. Jamie Coutts, Real Vision’s lead crypto analyst, stated:
"Global M2 bottomed at $94T in Q4 2022, now at $105T. Bitcoin’s market cap grew 5x (+$1.5T)—10% of new money supply leaked into BTC as a global reserve asset."
Regulatory Tailwinds:
- Gary Gensler, the SEC’s crypto-regulation hurdle, will resign by January 2025, boosting bullish sentiment.
- Trump pledged regulatory overhauls, including replacing Gensler.
Altcoins Join the Rally
- Ethereum trades at $3,622.91, signaling a sustained uptrend.
- XRP surpassed BNB to become the fifth-largest crypto by market cap.
- Trader Rekt Capital flagged $4,000 as Ethereum’s near-term target, citing resolved resistance at $3,700.
Jelle observed:
"ETH’s multi-year trendline mirrors Bitcoin’s 2018–2020 breakout—months of upward momentum followed."
Ethereum futures yields outperform Bitcoin, suggesting ETF inflows could push prices above $4K by January 2025.
👉 Bitcoin’s path to $100K: Key triggers and market dynamics
FAQ Section
Q: What drives Bitcoin’s surge toward $100K?
A: Whale accumulation, rising open interest, and macroeconomic liquidity inflows ($127T global M2 by 2025).
Q: How does Ethereum’s rally compare?
A: ETH mirrors BTC’s 2018–2020 pattern, with futures indicating ETF-driven gains.
Q: Why is Gary Gensler’s resignation significant?
A: It removes regulatory uncertainty, potentially accelerating crypto adoption.