Bitcoin is on the brink of setting a new all-time high, sparking considerable excitement in the market. With bullish trends dominating, renowned trader Captain Faibik is optimistic about a significant rally. His forecast suggests that Bitcoin’s price could rise by 10-12%. Should it successfully breach the crucial $103,000 resistance level, Bitcoin might climb to an impressive $113,000, marking a new milestone for the cryptocurrency powerhouse.
Bitcoin Bulls Eye $113K Target
The latest chart analysis from Captain Faibik reveals Bitcoin’s consistent upward trajectory. This is characterized by the formation of higher lows, supported by a steadily ascending trendline, indicative of strong bullish momentum. If Bitcoin can sustain this momentum and surpass the resistance level at $103,000, Faibik anticipates a rally exceeding 10-12%. This upward movement could propel the price towards the $113,000 target, establishing a new benchmark for the world’s leading cryptocurrency.
Breaking through the resistance in the near future would not only set a new all-time high but also reinforce Bitcoin’s status as a dominant force in the digital asset arena. Currently, Bitcoin is trading at approximately $101,835.76, positioning it just 1.7% away from surpassing its previous all-time high of $103,679.
Spot Bitcoin ETF Record $4.8 Billion
In parallel developments, spot Bitcoin (BTC) ETFs have experienced a remarkable influx over a 13-day consecutive period, amassing over $5.3 billion from November 27 to December 13. Notably, BlackRock’s Bitcoin ETF has emerged as a leader, accumulating over 500,000 BTC, thus becoming the most traded ETF among 11 contenders.
This trend underscores the growing interest in Bitcoin from Wall Street investors. Additionally, the rise in geopolitical tensions and Donald Trump’s electoral victory have further fueled Bitcoin’s price surge, driving it to unprecedented heights. These factors, combined with the ongoing developments in the cryptocurrency market, suggest a promising outlook for Bitcoin’s future trajectory.
