The post Bitcoin Nears $100K As Institutional Confidence Grows appeared on BitcoinEthereumNews.com.

Bitcoin continues its march toward the elusive $100,000 milestone, hitting an all-time high of $99,850. As it nears this psychological barrier, limit sell orders are being triggered, and many in the market believe it’s only a matter of time before Bitcoin crosses the six-figure threshold. 🧐 Bitcoin’s flirtation with $100K continues as crypto’s top market cap has now reached an ATH of $99,850. As its price continues to hit round numbers and fulfill limit sell orders, it is widely being perceived as only a matter of time. pic.twitter.com/Qb1LTznuij — Santiment (@santimentfeed) November 22, 2024 However, long-term Bitcoin holders appear to be taking a cautious approach. Since October, they have offloaded 128,000 BTC, indicating a wave of profit-taking as Bitcoin edges closer to the $100K mark. Whether this is cautious optimism or nerves taking hold, the market remains uncertain. Long-term Bitcoin holders have offloaded 128,000 BTC since October—profit-taking ramping up as $BTC nears the big $100K milestone. Could this be cautious optimism or nerves kicking in? Either way, all eyes are on Bitcoin now. 👀💰 pic.twitter.com/r68msTz4QK — Kyledoops (@kyledoops) November 23, 2024 Meanwhile, a massive transfer of 31,000 BTC (valued at $3.038 billion at an average price of $98,000) to a cold wallet by Deribit signals institutional confidence in Bitcoin’s long-term prospects. By reducing liquidity, this move has bolstered bullish sentiment and underscored the growing faith of major players in Bitcoin’s future. A massive 31,000 $BTC transfer to a cold wallet ($3.038B at $98K avg) shows Deribit’s confidence and long-term strategy. 🚀 This move reduces liquidity, boosts bullish sentiment, and highlights institutional faith in Bitcoin’s future. Cold storage = smart risk management. 💎🙌 pic.twitter.com/zuHBDNqGAA — Kyledoops (@kyledoops) November 23, 2024 Bitcoin Price Predictions And How It’s Going  Arthur Hayes, a prominent crypto advocate, recently predicted that Bitcoin will hit $100,000 by…

---

Filed under: News - @ November 26, 2024 9:21 pm