Bitcoin crosses $100K as analysts predict further surge

Bitcoin (CRYPTO:BTC) has surpassed the $100,000 milestone for the first time, but analysts believe it will not stay at this level for long.

Breaking this psychological price barrier is expected to attract more attention, increasing volatility and potentially driving the price higher.

“I don’t think it’s likely we see too much consolidation around 100k,” crypto analyst Nick Forster remarked.

According to Forster, Bitcoin’s status as a "memetic asset" means that crossing such key price thresholds often draws significant headlines and new market participants.

Crypto trader Matthew Hyland suggested in a December 5 post on X that Bitcoin’s price could soon hit $114,000, stating, “This is where it begins for Crypto. You have a 3-5 month window. Take advantage.”

Futures traders have also shown optimism, with $1.54 billion in long positions at risk of liquidation if Bitcoin’s price dips below $100,000, per CoinGlass data.

Additionally, Bitcoin open interest (OI) in derivatives markets has risen by 5.14% over the past day to reach $61.18 billion.

Forster anticipates that this rally could spark renewed interest in altcoins, especially Ether (CRYPTO:ETH).

He noted that Ether has “historically outperformed” Bitcoin following major milestones and all-time highs.

“The higher Bitcoin’s price goes, the bigger the altcoin run will be,” crypto analyst Miles Deutscher echoed this sentiment.

Meanwhile, Dan Held commented that Bitcoin’s $100,000 mark represents more than just a price milestone.

“It represents that the world is gradually acknowledging Bitcoin as the reserve currency of the future,” he said.

Analysts suggest this significant price level will continue to shape market dynamics and influence future investments across the cryptocurrency sector.

At the time of reporting, the Bitcoin price was $102,375.