bullish

Bitcoin

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Bitcoin extended its weekend rally on Dec. 16 by setting a new all-time high above $107,700.&nbsp;
The swell in Bitcoin’s (<a data-ct-non-breakable="null" href="https://cointelegraph.com/bitcoin-price" rel="null" target="null" text="null" title="null">BTC</a>) price comes amid a steady surge in spot volumes and the re-emergence of the Coinbase Premium in the US session. 
Robust buying in the US session followed the explosive weekend price action, which saw a strong spot push on Binance and notable perpetual futures volumes on KuCoin on Sunday, Dec. 15, as traders pushed BTC’s price through the $103,000–$104,000 sell walls.
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 <img alt="Bitcoin Price, Markets, Donald Trump, MicroStrategy, Bitcoin ETF, ETF, Michael Saylor" src="https://s3.cointelegraph.com/uploads/2024-12/0193d0d0-feb2-7b3f-a0bb-98f6ec6d5c48" title="">
 <figcaption style="text-align: center;">
 BTC/USDT 4-hour chart (Binance). Source: TRDR.io
 </figcaption>
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In addition to the steady spot buy volumes, positive news flow about new Bitcoin purchases from MicroStrategy and Semler Scientific hit headlines at the start of the day.&nbsp;
Semler Scientific <a data-ct-non-breakable="null" href="https://x.com/SemlerEric/status/1868644623926845749" rel="nofollow noopener" target="_blank" text="null" title="https://x.com/SemlerEric/status/1868644623926845749">purchased</a> 211 BTC for $21.5 million at $101,890 per coin, and MicroStrategy acquired 15,350 BTC for $1.5 billion at $100,386 per coin.&nbsp;
<blockquote class="twitter-tweet">
 MicroStrategy has acquired 15,350 BTC for ~$1.5 billion at ~$100,386 per <a href="https://twitter.com/hashtag/bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#bitcoin</a> and has achieved BTC Yield of 46.4% QTD and 72.4% YTD. As of 12/15/2024, we hodl 439,000 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> acquired for ~$27.1 billion at ~$61,725 per bitcoin. <a href="https://twitter.com/search?q=%24MSTR&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$MSTR</a> <a href="https://t.co/SaWLNBVkrl">https://t.co/SaWLNBVkrl</a>— Michael Saylor⚡️ (@saylor) <a href="https://twitter.com/saylor/status/1868643218956734876?ref_src=twsrc%5Etfw">December 16, 2024</a>
</blockquote>
According to independent market analyst Willy Woo, more than $3 billion dollars per day has entered the Bitcoin network over the past 30 days, a data point that highlights the bottomless appetite that market participants have for BTC at the moment.&nbsp;
<blockquote class="twitter-tweet">
 The last 30 days has seen more than 3 BILLION DOLLARS per day entering the <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> network. <a href="https://t.co/2ZqovhA9WL">pic.twitter.com/2ZqovhA9WL</a>— Willy Woo (@woonomic) <a href="https://twitter.com/woonomic/status/1868603072194482250?ref_src=twsrc%5Etfw">December 16, 2024</a>
</blockquote>
Robust daily inflows to the spot Bitcoin exchange-traded funds (ETFs) are also a consistent catalyst in BTC’s ascension to new all-time highs. According to data from <a data-ct-non-breakable="null" href="https://sosovalue.com/assets/etf/Total_Crypto_Spot_ETF_Fund_Flow?page=usBTC" rel="nofollow noopener" target="_blank" text="null" title="https://sosovalue.com/assets/etf/Total_Crypto_Spot_ETF_Fund_Flow?page=usBTC">SoSoValue</a>, the week ending Dec. 12 saw $2.17 billion in inflows to the ETFs, bringing the total net assets to $114.97 billion.&nbsp;
According to independent Bitcoin researcher and investor Timothy Peterson, Bitcoin’s price is most likely headed to $115,000 “based on ETF fund flows.”&nbsp;
<blockquote class="twitter-tweet">
 Based on ETF fund flows, <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> is headed to $115k <a href="https://t.co/HqThvxB1mV">pic.twitter.com/HqThvxB1mV</a>— Timothy Peterson (@nsquaredvalue) <a href="https://twitter.com/nsquaredvalue/status/1868681344089542925?ref_src=twsrc%5Etfw">December 16, 2024</a>
</blockquote>
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Bitcoin price all-time highs driven by spot volumes — Analyst says $115K is next

Cointelegraph

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