In a historic moment 5,808 days after Satoshi Nakamoto mined Bitcoin’s first block, the price of a single BTC has soared past $100,000.
This milestone marks a remarkable journey for the world’s largest cryptocurrency, cementing its status as a leading asset in the global financial landscape.
Institutions are buying #Bitcoin $BTC above $100,000 to build strategic reserves! 👀👀👀 The institucional FOMO is real. https://t.co/dMuzgeSur1
— Ali (@ali_charts) December 5, 2024
Institutional investors have been actively buying Bitcoin above the $100,000 mark, aiming to build strategic reserves. Over the past two weeks, the network has seen the emergence of approximately 400 new Bitcoin whales, defined as holders with 100 to 10,000 BTC. This trend underscores the growing confidence in Bitcoin’s long-term value.
Around 400 new #Bitcoin whales—holding between 100 and 10,000 $BTC—have joined the network in the last two weeks! pic.twitter.com/7qY6EGOWKv
— Ali (@ali_charts) December 4, 2024
However, Bitcoin’s next price move depends on the delicate balance between short-term demand and long-term holder supply. While retail interest is climbing, profit-taking by long-term holders could dampen momentum unless sufficient spot demand emerges.
Bitcoin’s next move hangs on a delicate balance: short-term demand vs. long-term holder supply.
With short-term supply near cycle highs and retail interest rising, profit-taking by long-term holders could stall momentum without enough spot demand.
A crucial moment for $BTC. 🚨 pic.twitter.com/M1htjnsSaV
— Kyledoops (@kyledoops) December 5, 2024
Adding to the intrigue, Mt. Gox recently transferred 24,052 BTC (valued at $2.43 billion) to a new wallet, identified as “1N7jW,” shortly after Bitcoin breached the $100,000 milestone.
Despite speculation, this wallet is likely an internal address. Currently, Mt. Gox still holds 15,826 BTC (approximately $1.63 billion) across 31 known wallet addresses.
5808 days since #SatoshiNakamoto mined #Bitcoin Block 1, the price for a single #BTC has reached $100K. What a journey it has been!
Which of the other milestones do you remember personally? #BTC100K pic.twitter.com/GgATv8GYLc
— glassnode (@glassnode) December 5, 2024
Bitcoin Spot ETFs Fuels Market Bullish Sentiment
Bitcoin spot ETFs are also experiencing significant activity, further fueling the market’s bullish sentiment. On December 4, spot ETFs saw a total net inflow of $557 million, marking the fifth consecutive day of positive net inflows. Notably, BlackRock’s ETF, IBIT, recorded a single-day net inflow of $572 million.
Bitcoin spot ETF had a total net inflow of $557 million on December 4, and continued to have net inflow for 5 consecutive days. BlackRock ETF IBIT had a single-day net inflow of $572 million. https://t.co/59u0BnEqLG pic.twitter.com/VCGypqL1LT
— Wu Blockchain (@WuBlockchain) December 5, 2024
As Bitcoin continues to break barriers, its growing adoption by institutions and retail investors alike highlights its enduring appeal. This milestone signals not only Bitcoin’s resilience but also its increasing role as a store of value in a rapidly evolving financial ecosystem.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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