Three Key Metrics Showing That Bitcoin to $100K Is Inevitable

As the crypto bull market continues, analysts are identifying signs that bitcoin (BTC) will inevitably hit $100,000; however, it remains a matter of when. The leading digital currency was worth $91,800 at press time, barely 8% away from the price target, per data from CoinMarketCap.

Bitcoin metrics such as retail investor participation, inflows into United States spot exchange-traded funds (ETFs), the increase in downloads of crypto applications on Android and Apple’s mobile device app stores, and patterns from previous bull cycles indicate that BTC at $100,000 is no longer far-fetched.

Retail Investors Are Active

Ki Young Ju, the founder and CEO of market analytics platform CryptoQuant, tweeted on Monday that retail BTC investors were increasingly active on the network. This is evident in Bitcoin trading volume for transactions worth less than $100,000 hitting a three-year high. 

According to the CryptoQuant CEO, the market is in a bull phase, and BTC will go up. As cumulative capital from whales and retail investors flows into the cryptocurrency, its upper limit appears to be $135,000. 

About a week ago, Ju predicted that BTC could end 2024 at $58,000 and possibly enter a bear market in 2025 unless it experiences a significant correction and consolidation in the coming weeks. At the time, BTC was at the onset of its parabolic phase and recorded new all-time highs almost every day. However, the CryptoQuant founder changed his stance over the weekend, stating that his year-end call on BTC was “way off.”

Historical Data and Capital Inflow

Another indication that BTC is witnessing high capital inflows is the state of the U.S. spot Bitcoin ETF market. Last week, the investment products saw over $2.5 billion in flows, indicating strong BTC demand from investors. Analysts have asserted that BTC needs consistent demand for a sustained rally in the coming weeks.

Furthermore, the increase in crypto app downloads shows that investor interest in the sector is rising, which often translates to increased capital inflow to the network. Data from SensorTower shows that crypto app store rankings surged after the U.S. presidential election day, with the American digital asset trading platform Coinbase leading the way.

Meanwhile, pseudonymous crypto analyst Rekt Capital says bitcoin’s parabolic phase, where the asset sees a significant uptrend and consistently records new highs, has just begun. Historical data shows this phase lasts an average of 300 days, and currently, BTC is only on day 13.