Bitcoin has reached a new all-time high, briefly trading at $99,500 during Friday’s intraday session before pulling back slightly. As of now, the cryptocurrency is priced at $98,675.

With heightened trading activity as the market anticipates a breakthrough above the $100,000 psychological level, digital asset research firm 10X Research predicts Bitcoin could climb to $115,000 by Christmas.

Why Bitcoin May Touch $115,000 Soon

In its new report, 10X Research found that the BTC market has become flush with liquidity in the past few weeks, a key factor that could drive Bitcoin toward the projected $115,000 mark. 

Stablecoin issuer Tether minted $10 billion in the past month. Also, Circle added $3 billion during the same period, fueling market momentum. This has resulted in a corresponding uptick in stablecoin flows to cryptocurrency exchanges over the past month. In a November 21 post on X, Leon Waidmann, head of research at The Onchain Foundation, confirmed this.

“Stablecoin inflows to exchanges hit $9.7B in 30 days! The LARGEST monthly inflow EVER. Stablecoin liquidity is back. Speculative demand continues to explode,” he said.

The surge in stablecoin inflows to cryptocurrency exchanges is a bullish signal. This influx often leads to increased buying pressure, driving the values of crypto assets upward.

“This massive wave of liquidity is reflected in elevated trading volumes, with spot volumes consistently exceeding $200 billion daily. The cryptocurrency market capita

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Author: Abiodun Oladokun