Bitcoin Taps $105,000: Here’s When It Could Hit $122,000
Bitcoin‘s (CRYPTO: BTC) rally to almost $106,000 may not yet be its peak, with technical models and macro flows aligning to support a near-term price target of $122,000, according to a report.
The move follows a well-defined breakout above the $84,500 level in mid-April and has been reinforced by strong spot buying and expanding institutional interest, according to a market update from May 12.
What Happened: This week’s data from CoinShares further underpins the bullish thesis.
Digital asset investment products recorded $882 million in inflows globally last week, marking four consecutive weeks of growth and bringing year-to-date inflows to $6.7 billion.
Bitcoin accounted for $867 million of that, continuing to dominate institutional allocations.
Notably, U.S.-listed Bitcoin ETFs have now amassed a cumulative $62.9 billion in net inflows since launching in January 2024, a record high.
Regionally, inflows were led by the United States ($840 million), followed by Germany and Australia, while Canada and Hong Kong saw small outflows.
CoinShares attributes the increase in …
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