Bitcoin is edging closer to the $100,000 mark, although its momentum has slowed down. It reached a new record on Thursday at $99,500, dropping below $99,000 as the U.S. market opened. BTC saw a 1% increase in the past 24 hours, while the overall CoinDesk 20 Index saw a gain of over 7%. Many alternative cryptocurrencies in the CD20 performed better than BTC, indicating a shift of capital towards smaller, riskier tokens as bitcoin’s growth slows down. The $100,000 price level represents a significant resistance point, where investors may decide to take profits. However, there is a chance that BTC could surge to $115,000 by Christmas, supported by a growing stablecoin supply, inflows into ETFs, and bullish options positioning on BlackRock’s spot BTC ETF (IBIT), as mentioned in a Friday note by 10x Research.
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