{"id":2261,"date":"2024-11-07T09:18:01","date_gmt":"2024-11-07T09:18:01","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=2261"},"modified":"2024-11-07T09:18:01","modified_gmt":"2024-11-07T09:18:01","slug":"bitcoin-may-reach-100000-by-us-presidential-inauguration-day-report-says","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=2261","title":{"rendered":"Bitcoin May Reach $100,000 By US Presidential Inauguration Day, Report Says"},"content":{"rendered":"
\n

Although the Bitcoin (BTC) price made new all-time highs (ATH) today, there could be more gains for the cryptocurrency\u2019s future price trajectory.<\/p>\n

Bitcoin To Hit $100k By Inauguration Day?<\/h2>\n

Following the victory of the Republican presidential candidate Donald Trump, the leading digital asset witnessed a steep surge in price, breaking through its previous ATH of $73,737 posted earlier this year in March.<\/p>\n

A new report<\/a> by cryptocurrency custodian Copper.co posits that BTC\u2019s upward momentum may extend into 2025. Commenting, Fadi Aboualfa, Head of Research at Copper.co, stated:<\/p>\n

\n

We have back-tested the ETF accumulation trend against potential price ranges.A $100,000 Bitcoin is quite possible by the time the 47th US President heads to the Capitol for inauguration on January 20, with ETFs holding approximately 1.1 million Bitcoins.<\/p>\n<\/blockquote>\n

The firm\u2019s forecast considers the historical Bitcoin exchange-traded funds (ETF) accumulation trends and the recent uptick in spot ETF inflows.\u00a0<\/p>\n

At the time of writing, the total value of net assets held in spot BTC ETFs stands<\/a> at $69.28 billion, accounting for more than 5% of the asset\u2019s total market cap.\u00a0<\/p>\n

Notably, the research firm had predicted last month that Bitcoin ETFs could hold slightly under a million BTC by election day. These ETFs hold about 986,000 BTC, proving the firm\u2019s assessment largely accurate.<\/p>\n

The increasing popularity of Bitcoin ETFs shows the continually rising institutional interest in the digital asset. Recent reports<\/a> show the demand for spot Bitcoin ETF is currently at a 6-month high.<\/p>\n

Data from crypto ETF tracker SoSoValue shows<\/a> that October 2024 was one of the most active months regarding BTC ETFs, as the financial products attracted roughly $3 billion in total net inflows.<\/p>\n

Betting Markets Still Not Bullish On Ethereum<\/h2>\n

While the top cryptocurrency by reported market cap has already entered uncharted territory in terms of price, the second-largest digital asset, Ethereum (ETH), continues to underperform.<\/p>\n

Citing betting markets, the report by Copper.co says it foresees only about a 12% chance of ETH hitting a new ATH this year. The report reads in part:<\/p>\n

\n

The lukewarm appeal of ETFs has dampened traders\u2019 mood, though investors seem largely unfazed. While Ethereum is now inflationary, its year-to-date supply growth was just 89k Ether, compared to the 5.7 million coins that have moved into staking.<\/p>\n<\/blockquote>\n

That said, not all is gloomy for Ethereum ETFs. Recently the State of Michigan revealed<\/a> that the Michigan Retirement System had invested close to $10 million in ETH ETFs, eclipsing its total investment in Bitcoin ETFs.<\/p>\n

While the recent rise in crypto ETF product activities is encouraging, investors should exercise caution as the digital asset market is notorious for showing high volatility within a short period.<\/p>\n

For instance, on November 4, spot BTC ETFs recorded<\/a> $541 million in single-day net outflows, the second largest since January. BTC trades at $74,300 at press time, up 6.4% in the past 24 hours.<\/p>\n

\"bitcoin\"<\/div>\n","protected":false},"excerpt":{"rendered":"

Although the Bitcoin (BTC) price made new all-time highs (ATH) today, there could be more gains for the cryptocurrency\u2019s future price trajectory. Bitcoin To Hit $100k By Inauguration Day? Following the victory of the Republican presidential candidate Donald Trump, the leading digital asset witnessed a steep surge in price, breaking through its previous ATH of […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-2261","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/2261","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2261"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/2261\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2261"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2261"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2261"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}