Bitcoin (BTC) Price Prediction: Will History Repeat as Whales Accumulate, Election Nears?

The world's leading cryptocurrency continues its upward trajectory as multiple factors converge to drive Bitcoin's price toward unprecedented levels.

Bitcoin price is approaching new all-time highs on the back of several converging factors.

Institutional investors are piling into recently launched spot ETFs, driving net inflows of $2.11 billion since Oct. 11 and pushing total assets under management past $60 billion.

Rising public debt and government stimulus measures in the U.S. are creating a favorable macroeconomic environment for Bitcoin.

Major holders, or "whales," have been accumulating BTC at a rapid pace, reaching 1.6 million BTC in the last six months, setting the stage for a "supply shock."

Network economist Timothy Peterson highlights historical price patterns that suggest Bitcoin could reach $100,000 within 90 days, countering arguments about diminishing returns in crypto markets.

The upcoming U.S. presidential election and candidates' stances on cryptocurrency integration may influence Bitcoin price movements.

Injective CEO Eric Chen observes an evolution in Bitcoin market cycles, with traditional four-year patterns now extending and leading to more sustainable growth periods.

Technical indicators and analysis anticipate a test of support levels around $66,750, while market sentiment remains optimistic.

Bitcoin price movements are closely correlated with global base money supply, especially during periods of economic expansion.

CryptoQuant data confirms the scale of whale accumulation, closely resembling patterns that have preceded major price advances.

Despite recent consolidation, Bitcoin is positioned for potential new highs by the fourth quarter, according to Pi42 CEO Avinash Shekhar.

China's economic stimulus announcements are also seen as supportive of Bitcoin's positive outlook.

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