Analysts suggest Bitcoin could climb back above $100,000 as large holders are accumulating, and the global money supply is on the rise, indicating increased market liquidity.
Mid-February Whale Activities
In February, fluctuations were observed in the movements of large Bitcoin holders. Inflows increased significantly in the second half of the month, reaching 7,460 BTC by February 20th, while outflows decreased to 920.64 BTC, indicating aggressive accumulation by whales.
The Rise of M2 Money Supply and Its Significance
Low liquidity is one of the factors curbing the crypto market, related to the FED's pause on rate cuts due to inflation. However, the M2 money supply indicator continues to grow, potentially impacting Bitcoin, as noted by analyst Vivek.
VanEck's Bitcoin Predictions
Over the past 12 months, there have been numerous Bitcoin predictions, most bullish. VanEck's bold prediction of a $21 million Bitcoin price if BTC becomes a strategic reserve asset in the US stands among them.
Despite current uncertainty, whale activity and rising M2 money supply bring hope for a return to price optimism. Interest in Bitcoin may increase if specific steps are taken towards recognizing it as a strategic reserve.
