Why Is Crypto Going Up:What’s Fueling the Push for $100K BTC

Why Is Crypto Up Today: Will $BTC Price Hit $100k Before November End?

Record-Breaking Bitcoin Futures Open Interest at CME  

The Chicago Mercantile Exchange (CME) has reached an all-time high in Bitcoin futures open interest, hitting 218,000 BTC (equivalent to $21.3 billion). This marks an impressive 33% growth since the recent U.S. presidential election results, reflecting a surge in bullish sentiment. With Bitcoin nearing a $2 trillion market cap, its current trajectory mirrors its historical rapid growth phases, fueling market optimism.

U.S. Bitcoin ETFs Witness Historic Inflows  

Spot Bitcoin ETFs in the United States have recorded a streak of inflows, with $773.47 million pouring into these funds on Nov. 20 alone. This comes as Bitcoin hit a new all-time high of $97,000. Over the past three days, cumulative inflows into U.S. Bitcoin ETFs surpassed $1.8 billion, signaling growing confidence in Bitcoin’s future amid regulatory clarity promised by President-elect Donald Trump. His administration has pledged to make the U.S. the "crypto capital of the planet."

Stablecoin Inflows Break Records, Indicating Buying Pressure  

Stablecoins are flooding exchanges, with $9.7 billion in inflows over the past 30 days, setting a new monthly record. This surge in stablecoin liquidity highlights growing speculative demand, potentially pushing Bitcoin toward $100,000 by the end of November, historically its most bullish month. Stablecoins serve as a primary on-ramp for fiat to crypto conversions, amplifying Bitcoin’s upward momentum.

Bitcoin Price Chart Signals $125K Target   

Bitcoin’s chart is forming a flag-and-pole pattern post-election, suggesting a bullish breakout. Market analysts predict a potential rally to $125,000 and beyond, driven by increasing institutional interest and favorable crypto policies under the new administration.

Institutional Investors Propel Bitcoin’s Growth  

Institutional players are key to Bitcoin’s recent surge. BlackRock’s new Bitcoin options trading product recorded $1.9 billion in trading volume on its first day, setting a record. Adding to the excitement, reports indicate that a Trump-affiliated company is exploring the acquisition of Bakkt, a prominent institutional crypto trading platform backed by the Intercontinental Exchange. This move could further solidify institutional access to digital assets.

Bitwise Plans Spot Solana ETF Amid Bitcoin’s Momentum   

Bitwise has taken steps to launch a spot Solana ETF, signaling the broader adoption of crypto ETFs. The firm registered a statutory trust in Delaware, indicating plans to file an S-1 registration with the SEC soon.