Bitcoin Reaches $105,000: $122,000 Target in Sight Amid Strong Institutional Interest

Bitcoin has surged to nearly $106,000, with technical models and macro flows supporting a near-term price target of $122,000. Institutional interest and spot buying have driven the rally, with digital asset investment products recording $882 million in inflows globally last week. Analysts suggest that momentum remains intact, with technical models pointing toward $122,000 as the next major target.

Bitcoin has surged to nearly $106,000, with technical models and macro flows supporting a near-term price target of $122,000. The rally is driven by institutional interest and spot buying, with digital asset investment products recording $882 million in inflows globally last week [2].

Analysts suggest that momentum remains intact, with technical models pointing toward $122,000 as the next major target. The latest CoinShares report shows that Bitcoin led the charge with $867 million in inflows, reflecting its growing role as a macro hedge amid rising economic uncertainty [2]. Additionally, the global M2 money supply remains at an all-time high, signaling a potential flood of global liquidity that risk assets like Bitcoin are now absorbing [2].

The expanding global M2 money supply is becoming a focal point for Bitcoin investors. Data on TradingView shows China’s M2 money supply remains at an all-time high of $326.13 trillion, which signals a potential flood of global liquidity that risk assets like Bitcoin are now absorbing [2]. Analysts have also observed that Bitcoin’s price correlates positively with global M2 trends, reinforcing Bitcoin’s narrative as a macro-responsive asset [2].

Institutional interest has also played a significant role in the Bitcoin rally. eToro has launched its U.S. IPO roadshow, aiming for a valuation of up to $4 billion, further highlighting the growing interest from institutional investors [1]. Moreover, Riot Games has secured a new marketing deal with Coinbase, making it the exclusive crypto exchange and official blockchain partner for 'League of Legends' esports [1].

Despite the positive developments, some experts remain cautious. While a growing consensus is linking M2 expansion with crypto price action, skeptics argue that the relationship may be overstated [2]. Recession fears in the US are further fueling crypto allocations, with Goldman Sachs recently raising its 12-month US recession probability to 45% [2].

In conclusion, Bitcoin's price surge to nearly $106,000 is supported by technical models, macro flows, and institutional interest. The near-term price target of $122,000 appears feasible, given the current market conditions and investor sentiment.

References:
[1] https://decrypt.co/news-explorer?pinned=1019538&title=bitcoin-price-stable-at-95k-as-stocks-fall-amid-trump-grumbles
[2] https://beincrypto.com/crypto-inflows-macro-factors-investors-trading-compass/