[Analysis] 'Santa Rally Expectations' for Bitcoin (BTC)... "Next Target Price is $120,000"

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Bitcoin (BTC) briefly surpassed $106,000, with analysis suggesting it could further rise to $120,000.

On the 16th, cryptocurrency-focused media CoinDesk reported, "Optimistic outlook on U.S. cryptocurrency policies and increased inflows into spot ETFs are driving Bitcoin prices up," adding, "Traders are setting the next target at $120,000." The market is in a mood of expecting a 'Santa Rally,' where prices rise during the Christmas period and year-end.

Augustin Pan, head of SOFA, stated, "The inflow of funds from traditional finance (TradFi) is dominating Bitcoin sentiment and price movements," predicting that "the influence of traditional finance will grow over time."

Jeff Mei, COO of BTSE, commented, "We believe Bitcoin's potential remains strong," forecasting that "Bitcoin could reach $125,000 by the end of next year."

There is also analysis suggesting that Bitcoin's upward rally has just begun. Mei added, "It will take time for institutions, family offices, and whales to allocate 1-3% of their portfolios to Bitcoin," but "if that happens, there could be a surge in capital inflow into the cryptocurrency market. There are many bullish factors, such as Trump's pro-crypto appointments, interest rate cuts, and China's economic stimulus measures."