Bitcoin News: BTC 'Wild' Odds Signal 85% Chance of Crossing $100K by Year-End

November 23, 2024 – Bitcoin’s path to six-figure valuations looks increasingly likely, with prediction markets strongly favouring a price above $100,000 before 2025. A new surge in institutional interest and rising ETF inflows are driving bullish sentiment.Bitcoin at $125K? Prediction Markets Bet BigAccording to data from prediction platform Kalshi, Bitcoin has an 85% chance of hitting $100,000 or more by December 31, 2024. Further, there’s a 9% likelihood of BTC reaching $150,000 and an outside chance of crossing $250,000.The median projection for Bitcoin’s price stands at $125,000 by the year’s end, as investors increasingly price in a potential breakout above the six-figure mark.“Prediction markets are beginning to price in a breakout rally above $100,000,” noted The Kobeissi Letter on X, calling the forecasts “wild.”BTC Eyes $2.5 Trillion Market CapBitcoin’s meteoric rise in November, with gains nearing 40%, and a 55% overall rally in Q4, have already pushed its market cap close to $2 trillion. Should BTC reach $125,000, its market capitalization could hit $2.5 trillion by January.However, Bitcoin remains shy of its key $100,000 psychological barrier, with sell-side pressure from long-term holders (LTHs) growing.ETFs Absorbing Sell Pressure Amid Historic GainsInstitutional inflows into Bitcoin exchange-traded funds (ETFs) have surged, with net inflows surpassing 90% of sell-side pressure from LTHs, according to Glassnode. U.S.-based Bitcoin ETFs now manage over $100 billion in assets, with last week marking their most successful inflow period since launch.“The ETFs have played a key role in absorbing sell-side pressure by long-term holders,” Glassnode noted, but warned of potential risks. “As unrealized profits reach more extreme levels, we can expect more LTH spending, which could outpace ETF inflows.”Market Outlook: $100K in SightDespite high profit-taking levels, market momentum remains firmly bullish. Analysts widely agree that Bitcoin’s six-figure milestone is a matter of 'when,' not 'if.'As the cryptocurrency inches closer to the $100,000 mark, the market’s focus now shifts to whether BTC can consolidate above this level and maintain its momentum heading into 2025, according to Cointelegraph.