Bitcoin Price Can Still Reach $100,000 Despite Sell-Off

Bitcoin’s $100,000 Target Remains Feasible

Bitcoin’s potential to hit $100,000 remains a topic of keen interest among investors. Various market dynamics and economic indicators suggest that this ambitious target is still within reach.

Experts share insights on what it will take for Bitcoin to achieve this milestone.

The Path to a $100,0000 Bitcoin

Felix Mohr, co-founder of MohrWolfe, told BeInCrypto about Bitcoin’s potential, emphasizing the growing demand and increasing Open Interest (OI). Recently, Bitcoin futures OI surged by $2.02 billion in just three days. 

“This increased buying interest in Bitcoin is no coincidence. Investors have made it clear they anticipate two US Federal Reserve rate cuts by the end of the year,” Mohr explained.

Bitcoin Open Interest. Source: CryptoQuant

Indeed, investor sentiment is significantly influenced by speculations surrounding the Federal Reserve’s monetary policy. A Reuters poll indicates a potential rate cut in September, although there is a risk of fewer cuts or none at all. 


“Nearly two-thirds of economists, 74 of 116, in the May 31-June 5 Reuters poll predicted the first cut in the Fed funds rate to a 5.00%-5.25% range would come in September. That was the same conclusion as last month’s poll, with a similar majority,” reads the Reuters report. 

Historically, Bitcoin benefits from a bullish stock market, which could be invigorated by Fed rate cuts. However, Federal Reserve Chair Jerome Powell remains cautious and economic indicators further complicate the picture. 

The Consumer Price Index (CPI) increased by 3.4% over the past year, while Core CPI rose by 3.9%. The Producer Price Index (PPI) also exceeded expectations, climbing 2.2% annually. These figures suggest persistent inflation, which may deter the Fed from aggressive rate cuts. 

“Amid the flurry of subpar economic data, the SP500 is at a record high, indicating a potential for reversal. Bitcoin and traditional markets have historically moved in tandem. A correction in traditional markets could collapse the Bitcoin price,” Mohr told BeInCrypto.

Read more: How to Protect Yourself From Inflation Using Cryptocurrency

Nonetheless, Bitcoin’s trajectory is also influenced by institutional interest. The approval of Bitcoin exchange-traded funds (ETFs) by the SEC has been a significant catalyst.

The anticipation of Ethereum ETF approvals by major financial institutions later this year could also drive substantial price increases.

“Bitcoin has surpassed that all-time high to establish a new high of nearly $74,000 set in mid-March. The march towards $100,000 by year’s end begins again if indeed, the Fed cuts rates twice,” Mohr concluded. 

Such an optimistic scenario is supported by Bernstein Research. The firm projects Bitcoin to reach $200,000 by 2025, $500,000 by 2029, and $1 million by 2033.

Bitcoin ETF Holdings
Bitcoin ETF Holdings. Source: CryptoQuant

Bernstein’s analysts argue that Bitcoin ETFs, which have seen initial retail-driven allocations, are poised for broader adoption as major wirehouses and private banks prepare to offer these investment products. 

Read more: Bitcoin (BTC) Price Prediction 2024 / 2025 / 2030

This institutional basis trade, they contend, acts as a “trojan horse” for wider adoption, potentially transforming Bitcoin into a mainstream asset class. Therefore, Bitcoin’s path to $100,000 and beyond remains achievable, contingent on favorable economic policies and continued institutional interest. 


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