Bitcoin's Rally Resumes Amid Exchange Outflows And Market Predictions

According to Odaily, 10x Research has highlighted a resurgence in Bitcoin's upward trend following a brief period of consolidation. The cryptocurrency exchanges are witnessing significant capital outflows, which has substantially reduced the availability of Bitcoin on these platforms. Concurrently, over-the-counter (OTC) inventories are also running low. These factors collectively suggest a potential boost in Bitcoin's price. Moreover, based on their trading model indicators, 10x Research predicts that Bitcoin could reach $120,000 by January 20, 2025, coinciding with the inauguration of Donald Trump. It is noteworthy that MicroStrategy has not been included in the S&P 500 index but has been added to the Nasdaq 100 index, which could lead to increased buying activity this week. Additionally, the company might issue more convertible bonds to expand its Bitcoin holdings, further increasing the likelihood of a significant Bitcoin surge this week.