Bitcoin Price Targets $100,000 as ETF Inflows, Technicals and Fed Catalysts Emerge

Bitcoin (CRYPTO: BTC) price has stalled in the past few days, but several catalysts suggest that a surge to $100,000 is possible. BTC was trading at $84,550, a few points below the September high of $87,300. 

Bitcoin Price Benefiting From ETF Inflows and Potential Fed Pause

BTC and other cryptocurrencies are benefiting from the renewed demand among retail and institutional investors. In a statement this week, Citigroup (NYSE:C) boosted its forecast for Bitcoin to $113,000, joining Standard Chartered, Bitwise and Fundstrat in delivering bullish outlooks. 

Citigroup argued that institutional investors will start allocating cash into alternative assets, which will boost its demand. Data shows that retail and institutional investors are allocating cash to Bitcoin. 

Spot Bitcoin ETFs attracted more than $2.6 billion in net inflows in September, following $3.5 billion in August. Led by BlackRock’s IBIT, these funds have taken in over $6 billion across the past three months, lifting net inflows since January to above $1 billion. 

IBIT now holds nearly $70 billion in assets, while Fidelity’s FBTC holds $15.3 billion. The surge in Bitcoin ETF demand began in July, as momentum in the AI boom started to fade. Additionally, Michael Saylor’s Strategy (NASDAQ:MSTR) has restarted its Bitcoin purchases. It bought 1,665 coins last week, bringing its total holdings to 847,666.