The price of Bitcoin has surged back above $63,500, surpassing the average realized price for short-term investors.

This bullish momentum is bolstered by substantial inflows into digital asset investment products.

CoinShares reports that these products saw $245 million in inflows last week, including a remarkable $519 million in Bitcoin alone. This brings Bitcoin’s inflows for the month to $3.6 billion and its year-to-date inflows to a record $19 billion. In contrast, Ethereum experienced a net outflow of $285 million.

According to Intotheblock, almost all Bitcoin holders are now in profit as $BTC steadily approaches its all-time high. Despite this, the TD Sequential indicator has presented a sell signal on the Bitcoin hourly chart, suggesting a brief correction could occur before the uptrend continues.

Over Half Of Accounts With Open Position Shorts Bitcoin

Interestingly, 55% of accounts with open Bitcoin positions on Binance Futures are currently shorting Bitcoin. If $BTC surges to $70,356, approximately $74.83 million in short positions would be liquidated.

Data from Spotonchain indicates that Bitcoin could see significant price movements in the near future. Projections suggest that $BTC could reach $100,000 in the latter half of 2024 and potentially hit $150,000 in the first half of 2025.

With Bitcoin’s price climbing and substantial inflows from investors, the outlook remains positive despite potential short-term corrections. The market sentiment suggests continued growth, with significant milestones anticipated in the coming years.

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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