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- Analysts see potential for BTC price to rally toward $116K–$120K if it flips $112K into support, with interim targets at $113K, $115K, and $120K.
- Net inflows into U.S. spot Bitcoin ETFs have surpassed $50 billion, with BlackRock’s IBIT contributing significantly.
Earlier today, the Bitcoin (BTC) price rallied more than 3% hitting a fresh all-time high of $112,000, thereby triggering a broader crypto market rally, as mentioned in our previous story. After consolidation at $109K for several weeks, crypto bulls cheered this move.
Several factors, including the upcoming CLARITY Act, expectations of Fed rate cuts, and massive institutional inflows into spot Bitcoin ETFs, drive today’s rally.
Where’s BTC Price Heading Next?
As Bitcoin enters the price discovery zone, investors are curious about where the BTC price will head next. Let’s discuss both the bull and bear cases to decide the next price trajectory for the world’s largest crypto. As of press time, BTC is facing a minor pullback to $111,000 levels with analysts closely watching for a potential breakout extension.
For the bullish momentum to remain intact, BTC price should flip the all-time high of $112K into strong support. If so, market analysts forecast an extended rally targeting the $116K–$120K range. Key price targets in focus for the near-term include $113,000 as a near-term objective, $115,000 as a psychological resistance point, and $120,000 as a potential institutional target.
On the other hand, investors should also keep an eye on the bear-case scenario here. If Bitcoin’s rally fails to sustain above its all-time high of $112,000, analysts warn that a correction could be imminent. A failed breakout at this level without follow-through momentum may trigger a retracement toward key support zones.
If the 4-hour fair value gap between $109,800 and $110,800 fails to hold, and BTC price closes below the $108,000 level, downside targets may come into play. These include the $108K–$105K range, considered potential discount-buying levels, and the critical psychological support at $100,000.
All Eyes on Bitcoin ETF Flows
Inflows into spot Bitcoin ETFs have remained strong over the past two months. As per the data from Farside Investors, the net inflows since inception have crossed more than $50 billion, hitting a new milestone. On Wednesday, the net inflows across all US ETF issuers were $215 million, with BlackRock iShares Bitcoin Trust (IBIT) alone contributing $125 million, as reported by CNF.
ETF inflows continue to provide strong support for Bitcoin’s ongoing rally, according to the latest analysis from Ecoinometrics. The firm’s ETF flow-based pricing model now estimates Bitcoin’s fair value at $119,000, reflecting sustained investor demand through spot exchange-traded funds.
Furthermore, on-chain data from Santiment shows that weak retail hands have been exiting from Bitcoin over the past few weeks, either due to “boredom or disbelief.” On the other hand, whales and long-term players have continued to accumulate during the same period.
