{"id":19147,"date":"2024-12-03T17:05:08","date_gmt":"2024-12-03T15:05:08","guid":{"rendered":"https:\/\/forklog.com\/en\/bitfinex-predicts-bitcoin-surge-beyond-100000-by-year-end\/"},"modified":"2024-12-03T17:05:08","modified_gmt":"2024-12-03T15:05:08","slug":"bitfinex-predicts-bitcoin-surge-beyond-100000-by-year-end","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/bitfinex-predicts-bitcoin-surge-beyond-100000-by-year-end\/","title":{"rendered":"Bitfinex Predicts Bitcoin Surge Beyond $100,000 by Year-End"},"content":{"rendered":"<p>Bitcoin concluded November with a 37.3% increase and is poised to reach six-figure levels in December due to favourable seasonality, according to <a href=\"https:\/\/blog.bitfinex.com\/bitfinex-alpha\/bitfinex-alpha-btc-to-break-100k-if-sth-demand-can-meet-lth-supply\/\">Bitfinex<\/a>.<\/p>\n<p>Analysts&#8217; calculations show that historically, in halving years, the asset appreciated by an average of 38.9% in this month.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/1-1337.webp\" alt=\"1-1337\" class=\"wp-image-246668\"\/><figcaption class=\"wp-element-caption\">Data: Bitfinex.<\/figcaption><\/figure>\n<p>Experts cautioned that the growth will be volatile, linked to profit-taking by hodlers and BTC-ETF dynamics.<\/p>\n<p>Last week, clients withdrew $135.1 million from exchange-traded funds, while long-term investors reduced their balances by 508,990 BTC.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u201cAlthough this is still less than the 934,000 BTC distributed before the March 2024 peaks, ongoing seller pressure requires sustained demand to prevent further price declines,\u201d<\/em> analysts clarified.<\/p>\n<\/blockquote>\n<p>According to Bitfinex, the number of coins held by speculators approached a cyclical peak of 3,282,000 BTC. Historically, the final phase of a bull run emerged after this metric exceeded pre-halving highs.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/2-965.webp\" alt=\"2-965\" class=\"wp-image-246669\"\/><figcaption class=\"wp-element-caption\">Data: Bitfinex.<\/figcaption><\/figure>\n<p>The current consolidation phase serves as a necessary pause for absorbing profit-taking and adjusting market demand, they concluded.<\/p>\n<p>QCP Capital linked the current correction to reports of the U.S. government moving 10,000 BTC (~$963 million at the time) associated with Silk Road.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Asia Color \u2014 3 Dec 24<\/p>\n<p>1\/ Bitcoin soared past $97K before pulling back to hover above $95K. This retrace followed news of the U.S. government moving 10K <a href=\"https:\/\/twitter.com\/hashtag\/BTC?src=hash&#038;ref_src=twsrc%5Etfw\">#BTC<\/a> (~$963M) linked to Silk Road\u2014a transfer that rattled markets.<\/p>\n<p>\u2014 QCP (@QCPgroup) <a href=\"https:\/\/twitter.com\/QCPgroup\/status\/1863882697833386256?ref_src=twsrc%5Etfw\">December 3, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Experts noted that in upcoming contracts, expected volatility has shifted further towards puts.<\/p>\n<p>Previously, CryptoQuant CEO Ki Young Ju explained the absence of an altseason.<\/p>\n<p>According to crypto analyst and ITC Crypto founder Benjamin Cowen, such assets face a deep correction before a growth season.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin concluded November with a 37.3% increase and is poised to reach six-figure levels in December due to favourable seasonality, according to Bitfinex. Analysts&#8217; calculations show that historically, in halving years, the asset appreciated by an average of 38.9% in this month. Data: Bitfinex. Experts cautioned that the growth will be volatile, linked to profit-taking [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":19146,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[95,1145,1268],"class_list":["post-19147","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitfinex","tag-market-analysis","tag-on-chain-analysis"],"aioseo_notices":[],"amp_enabled":true,"views":"11","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/19147","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=19147"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/19147\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/19146"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=19147"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=19147"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=19147"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}