Bitcoin has smashed its previous records, soaring to a new all-time high of $107,700 on December 16. This has been fueled by robust spot buying during the U.S. session and surging inflows into Bitcoin exchange-traded funds (ETFs). Analysts are now predicting the cryptocurrency could climb even higher in the coming weeks.
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Spot Buying Drives Record Surge
The rally was powered by strong activity on platforms like Binance and KuCoin, where traders pushed Bitcoin past the $103,000–$104,000 resistance. According to SoSoValue, ETFs saw $2.17 billion in inflows for the week ending December 12, lifting total net assets to $114.97 billion. Independent Bitcoin researcher Timothy Peterson credited ETF fund flows as a key driver behind Bitcoin’s momentum, stating that the price is “most likely headed to $115,000.”
Institutional Demand Strengthens the Market
Institutional buyers have also played a huge role in this surge. MicroStrategy (MSTR) recently purchased 15,350 BTC for $1.5 billion at an average price of $100,386 per coin, while Semler Scientific (SMLR) acquired 211 BTC for $21.5 million at $101,890 each. Independent analyst Willy Woo highlighted that more than $3 billion per day has flowed into the Bitcoin network over the past 30 days, reflecting a strong appetite for the cryptocurrency.
At the time of writing, Bitcoin is sitting at $107,057.22.
