Bitcoin Rally Gains Steam as Analyst Points to $103K Milestone

Bitcoin started the week strong, climbing past $94,000 and nearing the $95,000 mark, just as the market braces for important U.S. economic data.

While the price uptick has been welcomed, many investors remain cautious about what lies ahead.

However, analyst Willy Woo offered a much more upbeat perspective. In his latest analysis, Woo highlighted a major shift in Bitcoin’s fundamentals, pointing to increased capital inflows into the network.

He explained that both speculative and total capital flows have bottomed out, a combination that historically supports the start of fundamentals-driven bull markets. According to Woo, this backdrop should keep downside moves relatively shallow.

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On the price front, Woo confirmed that Bitcoin has already surpassed earlier medium-term targets of $90,000 and $93,000. He now sees $103,000 as the next key milestone, with the longer-standing $108,000 target still in play. In his view, current pullbacks present buying opportunities, even though minor short-term declines could still happen.

Overall, the mood among some analysts, like Woo, is clearly shifting toward optimism, suggesting that Bitcoin could soon challenge new all-time highs if momentum holds.

Alexander Stefanov