Leon Weidman: the inflow of funds into stablecoins will allow bitcoin to rise to $ 100,000 (website)

The inflow of $ 9.7 billion in stablecoins over the past 30 days could be a key factor in raising the price of bitcoin BTC $96,188.86 Bitcoin -0.40% Market capitalization $1.91 trillion VOL. 24 hours $0.91 billion to $ 100,000 by the end of November. This was stated by Leon Weidman, head of research at The Onchain Foundation.

According to the expert, such a large-scale liquidity inflow is a record in the history of the cryptocurrency market. He noted that the growth of speculative demand for cryptocurrencies creates conditions for further increase in its value.

Ryan Lee, chief analyst at Bitget Research , supported this statement and added that after the halving (a decrease in the reward for bitcoin mining), the market is showing positive dynamics.

Lee predicts bitcoin’s growth potential to be 14.7% above the $ 100,000 target.

Investments in BTC-ETF exchange-traded funds have become an additional factor in the rise of bitcoin’s price. In just three days, including November 20, $ 773 million was invested in these products.

The volume of assets in BTC-ETFs currently exceeds $ 100 billion, which is 5.4% of the total bitcoin capitalization. Since the approval of such funds, investors have invested $ 29.35 billion in them.

It is reported that the preliminary launch of options on BTC-ETFs has already pushed the value of bitcoin to a historical high close to $ 94,000.

According to analysts, further strengthening of liquidity and interest from large investors creates all the conditions for reaching the $ 100,000 mark.