Whats brewing Is Bitcoin heating up for a massive 100K surge

Bitcoin: Will It Hit $100,000 Next? How Will the U.S. Election, ETF Approvals, and Market Sentiment Impact Its Future Trajectory?

Table of Contents
1. Bitcoin Continues to Surge
2. Spot Bitcoin ETFs Gain Popularity as Positive Changes Occur
3. Is a Major Breakout on the Horizon?
4. Where Might Bitcoin Head Next?

1. Bitcoin Continues to Surge
Bitcoin (BTC) has been experiencing an impressive bull run, with a gain of over 2% in the past week as the “Uptober” effect sweeps through the crypto market.
As of October 21st, BTC is trading at $67,100, reaching a level it hasn’t seen since late July and marking a 3-month high. It briefly touched $69,500 before retreating as bears stepped in to slow down the rally.
The market sentiment is also shifting rapidly. The crypto fear and greed index currently sits at 63, signaling “greed” and showing a sharp contrast to the yearly low of 26 on September 7th, when fear dominated the market.
Investors are feeling optimistic, especially with the upcoming U.S. presidential election on November 5th. Former President Donald Trump, who has proposed crypto-friendly policies, is gaining momentum in election polls.
Many believe that his potential win could push Bitcoin to new heights, as his policies are seen as beneficial for the crypto industry.
So, what’s next for BTC? With key economic events on the horizon and a highly charged political arena, where might BTC head in the coming days? Let’s find out.

2. Spot Bitcoin ETFs Gain Popularity as Positive Changes Occur
In a significant development for the Bitcoin market, spot Bitcoin exchange-traded funds (ETFs) are set to see increased activity, thanks to a recent rule change by the U.S. Securities and Exchange Commission (SEC).
On October 18th, the SEC approved a new rule allowing the New York Stock Exchange (NYSE) and the Chicago Board Options Exchange to offer options trading for several spot Bitcoin ETFs. This change opens the door to greater liquidity and smoother price movements in the crypto space.
This rule change affects some prominent names. The NYSE now has permission to list options for the Grayscale Bitcoin Trust (GBTC), Grayscale Bitcoin Mini Trust (BTC), and Bitwise Bitcoin ETF (BITB).
Meanwhile, the Chicago Board Options Exchange can list options for the Fidelity Wise Origin Bitcoin Fund (FBTC) and the ARK 21Shares Bitcoin ETF (ARKB).
These developments come shortly after the SEC granted Nasdaq approval to list options for BlackRock’s iShares Bitcoin Trust (IBIT).
Options are financial contracts that give investors the right to buy or sell an asset at a set price before a certain date. In this case, the underlying asset is a Bitcoin ETF.
Although launch dates have not been confirmed for these options, experts believe that the approval could have a significant impact.
More financial products on major U.S. exchanges mean increased access to crypto, which could attract a wider range of participants, from institutional players to everyday investors.
The timing couldn’t be better. Bitcoin ETFs have seen a substantial surge in inflows recently. According to data from CoinGlass, spot Bitcoin ETFs received over $2.13 billion in inflows in the week ending October 18th, pushing total assets under management to a solid $52 billion.
Last week’s inflows marked the strongest performance for Bitcoin ETFs in about seven months, signaling that investor confidence in crypto is on the rise.

3. Is a Major Breakout on the Horizon?
As Bitcoin approaches the $70,000 mark, many experts are sharing their insights on where the market might be headed next on social media.
Bitcoin is in the “Boring Zone”
Crypto analyst Michaël van de Poppe has described the current state of Bitcoin as being in the “Boring Zone.” However, this does not signal bad news.
Bitcoin has been consolidating around the $68,000 level, while altcoins have started to show signs of recovery.
According to van de Poppe, this phase is similar to a coiled spring waiting for a surge of liquidity. “Altcoins are currently reversing and ending the longest bear market in history,” he explains.
This “Boring Zone” is a crucial period for Bitcoin, where the price remains in a tight range but builds momentum beneath the surface. Historically, similar phases in Bitcoin’s price action have led to significant upward movements as investors reenter the market once they sense that the floor has been established.
Bullish Momentum Signals Are Present
On the technical front, Ali, another prominent crypto analyst, has turned to a specific metric to gauge Bitcoin’s next move.
The market value to realized value momentum indicator, which compares Bitcoin’s current price to the price at which most BTC was last moved, has recently turned bullish.
When this indicator shows bullish signs, it is often an early indication of more price gains to come. Essentially, people are holding onto their Bitcoin, believing that the market is ready for a push higher, which is an important psychological factor in price movement.
As investors feel confident and hold onto their Bitcoin, selling pressure decreases. With less selling pressure, it becomes easier to sustain upward momentum, pushing Bitcoin higher.
Rising Open Interest
Another significant factor is the increase in Bitcoin CME Futures Open Interest, which recently reached an all-time high of $12 billion, as noted by Maartunn, a crypto futures expert.
Open interest refers to the total number of outstanding futures contracts that have not been settled. An increase in open interest means that more traders are placing bets on Bitcoin’s future price movement.
The surge in open interest aligns with the broader picture of Bitcoin’s current momentum. Traders clearly anticipate a breakout, likely driven by the macroeconomic events at play.
However, there is a catch—higher open interest can sometimes lead to increased volatility, especially if a large number of traders are on the same side of the trade, whether bullish or bearish. If the market moves against those positions, it could trigger liquidations and result in sudden price swings.

4. Where Might Bitcoin Head Next?
One crypto analyst believes that Bitcoin’s next target is $98,000. The prevailing sentiment across the community is that momentum is steadily building, with growing confidence that BTC is ready for its next upward move.
Meanwhile, according to renowned crypto analyst Rekt Capital’s analysis, we are currently in the $65,000 to $70,000 range, and the next major milestone could be anywhere between $90,000 and $160,000.
As Bitcoin gains strength around the $70,000 mark, the next logical resistance could be at $90,000. However, if Bitcoin breaks through $90,000 with strong momentum, it could quickly accelerate towards $100,000 and beyond.
This is because once Bitcoin enters price discovery (trading above previous all-time highs), market euphoria tends to drive prices much higher in a relatively short period.
For now, the momentum seems to favor Bitcoin’s rise. However, investors should remain vigilant, monitoring both the technical indicators and broader economic factors to gauge Bitcoin’s next move. As always, trade wisely and never invest more than you can afford to lose.