TechFlow reports that Matrixport has released a new report stating bitcoin's surge to new highs is unstoppable, with macroeconomic factors remaining key drivers of bitcoin's price.
Amid rising expectations for bitcoin price appreciation, futures traders are increasing long positions, pushing open interest to $20.5 billion. Buying pressure remains aggressive, while funding rates have had limited impact.
The bull market could persist until the Federal Reserve begins cutting rates—not only due to declining inflation but also because of significantly slowing economic growth. Global central banks have already started easing monetary policy, including the Bank of Canada, with the European Central Bank expected to follow suit.
Recent declines in inflation have coincided with strong capital inflows into bitcoin spot ETFs, recording the second-largest single-day inflow in history this week. Bitcoin is poised to break its all-time high, potentially surging rapidly toward new peaks, possibly reaching $100,000.
