Bitcoin Could Hit $101,694 By January, Says 10x Research
A new suggests that Bitcoin (CRYPTO: BTC) may surge to $101,694 by January 27, 2025, buoyed by strong market momentum and increasing institutional demand through spot ETFs.
What Happened: The report, by 10x Research, highlights Bitcoin’s resilience as it reached a six-month high, a milestone that has historically led to a median three-month return of +40%. If this trend holds, Bitcoin is expected to cross the $100,000 mark early next year.
“We’re seeing Bitcoin absorb market energy from altcoins, much like a gravitational black hole,” 10x Research analysts noted.
Bitcoin dominance, the percentage of the total crypto market cap that Bitcoin represents, has climbed from 38% to 58%, its highest level since April 2021.
This dominance signals a “powerful gravitational pull” within the crypto ecosystem, where Bitcoin is increasingly viewed as a safer, more reliable asset compared to altcoins, especially those lacking substantial use cases.
The report attributes this growing momentum partly to the ongoing surge in Bitcoin spot ETFs, which accumulated $4.1 billion in October 2024 alone.
Spot ETFs added an additional $830 million in Bitcoin just last night, bringing their five-day total to $2.1 billion, reinforcing Bitcoin’s demand from institutional investors.
“With spot ETF demand going parabolic, Bitcoin is set …
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