Bitcoin Approaches $100K Amid Increased Whale Activity and Treasury Buyback Hints

Arthur Hayes, co-founder of BitMEX, suggests a potential treasury buyback could drive Bitcoin's price above $100K. Bitcoin has gained about 3% in the last two days, surpassing resistance at $87K. Increased whale activity indicates potential growth towards $132K.

Key Points

The US Dollar Index is at its lowest since March 2022, indicating inflation fears and declining confidence in fiat currencies.
Historically, money flows into safe-haven assets like Bitcoin during such times.
Whale addresses holding over 1,000 BTC have surpassed 2,100, with 60 new addresses added in the past two months.
Bitcoin's recent chart patterns show strength, likely retesting $91.2K before targeting $100K.

Market Trends

Gold prices are at record highs, which may correlate with rising Bitcoin values. As whales accumulate, there is significant support for Bitcoin's upward movement.

Investors are advised to conduct their own research due to market volatility.