Bitcoin Approaches $100,000: Bullish Trends Drive Inflows & Potential Breakout

Bitcoin has surged past the $97,000 mark, marking a significant milestone. This surge is fueled by strong ETF inflows and growing institutional interest, with analysts anticipating a potential breakout to the $100,000 level. A confluence of factors suggests this momentum might continue. 2-day increase in open interest has added another $3 billion to Bitcoin’s market capitalization. Meanwhile, positive funding rates indicate a significant bullish skew in short positions, setting up the stage for a potential short squeeze.