Overview
- Bitcoin is trading between $95,000 and $100,000, propelled by record institutional inflows and reduced exchange supply.
- Spot Bitcoin ETFs saw $3.4 billion in inflows last week, marking one of the largest weekly inflows on record, according to CoinShares.
- Standard Chartered predicts Bitcoin could reach $120,000 this quarter and $200,000 by year-end, driven by strategic reallocations away from U.S. assets.
- The total supply of Bitcoin on exchanges has dropped to a seven-year low, signaling accumulation and reduced selling pressure.
- Analysts highlight Bitcoin's decoupling from tech stocks and increasing appeal as a safe-haven asset during global economic uncertainty.