With crypto liquidity improving and stablecoin inflows rising, Bitcoin could soon push past $100,000, Matrixport says.
Bitcoin (BTC) could be preparing for a breakout above $100,000 as new capital flows into the crypto market, according to a Matrixport report conducted by market analyst Markus Thielen.
In an X post on Monday, the analysts noted that crypto liquidity was improving and fresh capital was beginning to flow into the market, noting that after two months of sideways movement with a slight upward grind, early signs of a more aggressive fiat-to-crypto on-ramp are now more visible.
โIf this trend continues, Bitcoin should have little difficulty breaking through the $100,000 level. While early days, it was a similar surge in inflows during October and November that fueled the previous aggressive rally.โ
Matrixport
The analysts say traders should โclosely monitorโ stablecoin capitalization data as a โnotable uptick is now emerging.โ
At the same time, Markus Thielenโs 10x Research reported that two of its reversal indicators had turned bearish and that the stochastics oscillator had risen to 95%, further suggesting short-term downside risk. However, the firm noted that this could represent a โconsolidation phase before a potential breakout above $100,000,โ and added that โthis consolidation phase will be short.โ
As of press time, Bitcoin is trading at $94,830, up 8.54% on a weekly timeframe. U.S. spot Bitcoin exchange-traded funds have also recorded $3.06 billion in net inflows for the week ending April 25, marking their strongest weekly performance since November 2024.
