Analysts are optimistic about Bitcoin, predicting it could reach $135,000 within the next 100 days if current macroeconomic conditions persist. Bitcoin network economist Timothy Peterson highlighted a drop in the CBOE Volatility Index (VIX), indicating a favorable environment for risk assets like Bitcoin. With a 95% prediction accuracy, Peterson's model suggests that a low VIX could lead to a new all-time high for Bitcoin. Additionally, Fidelity's Jurrien Timmer compared Bitcoin's dual nature as both a store of value and a speculative asset, which differentiates it from gold. Meanwhile, the stablecoin market cap surged to a record $220 billion, showing increased liquidity in the crypto market, which might lead to new BTC highs. However, BTC’s futures funding rate has turned negative, suggesting traders are taking short positions, potentially setting the stage for a short squeeze that could send Bitcoin prices soaring towards $100,000.

Source 🔗