What to Know:
- Bitcoin has surged 11% to reach $95,000 this week, marking the strongest performance since November 2024.
- U.S.-listed spot Bitcoin ETFs witnessed $2.68 billion in inflows this week as of Thursday, the highest since December.
- Predictions suggest Bitcoin may exceed $130,000 by late 2025 or early 2026, according to Ledn’s CIO.
Bitcoin (BTC) is on the rise again, anticipated for its strongest weekly performance since Donald Trump’s election victory. While maintaining nearly $95,000 during the U.S. afternoon trading hours, Bitcoin has experienced a 1.8% increase in the last 24 hours. Close behind is Ethereum’s ether (ETH), which gained 2% to settle just above $1,800. Notably, the CoinDesk 20 Index indicates strong performance from assets like Sui’s (SUI), Bitcoin Cash (BCH), and Hedera’s (HBAR).
Today’s upward movement caps a remarkable recovery in the cryptocurrency markets, which have rebounded from earlier April lows amid ongoing market fluctuations. BTC’s impressive climb of over 11% since Monday is the most significant weekly gain since late 2024 when Trump’s victory triggered a broad rally across cryptocurrencies.
Investor interest from ETFs has surged again, with U.S.-listed Bitcoin ETFs registering net inflows of $2.68 billion this week, marking a resurgence that hadn’t been seen since December, according to SoSoValue data.
Potential for New Records
While there is potential for volatility, this week’s rally may indicate the start of Bitcoin’s next upward movement into record territory, according to John Glover, the Chief Investment Officer at Ledn.
Using Elliott Wave analysis, Glover suggests that Bitcoin has commenced the fifth wave of its multi-year bullish market trajectory. Although a retest of this month’s low at $75,000 is a possibility, Glover anticipates BTC will climb to around $133,000 to $136,000 by the end of the year or early next year.
