Bitcoin has achieved another milestone, briefly trading at $99,500 during Friday’s intraday session. The cryptocurrency has since settled at $98,675, but anticipation is building. Many believe Bitcoin could surpass the critical $100,000 psychological barrier soon. A report from 10X Research forecasts a potential surge to $115,000 by Christmas.
Why Bitcoin Could Reach $115,000
A flood of liquidity in recent weeks could propel Bitcoin to new heights. According to 10X Research, stablecoin issuers like Tether and Circle have added $13 billion combined in the past month. This has significantly boosted stablecoin flows to cryptocurrency exchanges, creating a bullish environment.
Leon Waidmann of The Onchain Foundation echoed this sentiment in a recent post, noting that the surge in stablecoin inflows often signals increased buying pressure. This liquidity injection has already begun driving crypto prices upward.
ETF Options Activity Signals Bullish Momentum
Another factor fueling optimism is the growing activity in BlackRock Bitcoin ETF (IBIT) options. As of November 22, call options outpaced puts by 5.5 to 1, up from 3.8 to 1 the previous day. Many call buyers are targeting strike prices between 110-120% of the current level, signaling expectations of a rally well beyond $100,000.
10X Research also highlighted the potential for a gamma squeeze, where increased options activity could amplify Bitcoin’s price gains. This dynamic may transform $100,000 from a major resistance point into a stepping stone toward $115,000.
BTC Price Outlook: Buyers Hold the Key
Bitcoin currently trades at $98,675, with the potential to reclaim its $99,500 all-time high soon. A breakout above this level could turn $100,000 into solid support, paving the way for further gains.
However, if buying momentum fades, Bitcoin’s price could drop toward $88,816, a key support level. A move below this threshold would invalidate the bullish outlook.
