Bitcoin To '$100,000 Is 'Programmed:' Dogecoin, Bonk To Benefit, Veteran Trader Says

Bitcoin's BTC/USD approach toward the psychological $100,000 mark has sparked interest, with inflows into spot ETFs and IBIT options trading contributing to optimism.  

Statistics: Lookonchain data shows the spot Bitcoin ETFs recording a net inflow of 9,363 BTC ($884.9 million) on Tuesday.

Spot Ethereum ETFs reported a net outflow of 26,071 ETH ($81.16 million).

Ark21Shares‘ ARKB led Bitcoin inflows with 2,871 BTC, increasing its holdings to 49,699 BTC, while Fidelity‘s FETH reported the highest outflows of 15,000 ETH.

Bloomberg analyst Eric Balchunas noted that ETF flows have hit record levels globally, with December historically being a high-flow month.

Trader Notes: Crypto chart analyst Ali Martinez compared Bitcoin's current performance to December 2020, citing identical RSI levels. His forecast suggests BTC will hit $108,000, retrace to $99,000, and then surge to $135,000.

#Bitcoin looks like it did in December 2020. Even the RSI is nearly identical. If true, $BTC will go to $108,000, drop to $99,000, and bounce to $135,000! pic.twitter.com/hsIBWBVGnl

— Ali (@ali_charts) November 20, 2024

Altcoin Sherpa sees Bitcoin’s rise to $100,000 as “programmed,” with big meme coins like Dogecoin DOGE/USD and Bonk BONK/USD expected to benefit.

He predicts continued consolidation for altcoins, offering further opportunities for gains.

CrediBULL Crypto noted Bitcoin's movement above key low timeframe (LTF) levels, suggesting a consolidation phase before a sustained rise. If Bitcoin holds its highs, altcoins may pump further, but a sharp pullback to $70,000 could drag altcoins down temporarily.

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