Bitcoin’s Bullish Surge: Traders Predict New All-Time Highs in 2024
Polymarket traders are overwhelmingly betting on Bitcoin to reach unprecedented heights in 2024, with price targets ranging from $110,000 to $130,000. This Optimism follows Bitcoin’s current rally, trading at $103,953, up 1.6% in the last 24 hours. Below is a detailed summary of the market sentiment and key developments driving these bullish predictions.
Polymarket Traders Bet on Bitcoin’s Next All-Time High in 2024
Traders on Polymarket are placing bullish bets on Bitcoin’s price trajectory, with a majority predicting the cryptocurrency will reach between $110,000 and $130,000 this year. Over 87% of the $1.7 million in wagers are positioned for BTC to hit $110,000, while 72% see it climbing to $120,000. Another 67% anticipate a surge to $130,000.
Bitcoin currently trades at $103,953, up 1.6% in 24 hours. The rally follows renewed optimism from a U.S.-China trade agreement, fueling speculation of institutional inflows. Polymarket’s prediction market has emerged as a barometer for crypto sentiment, with traders using real money to signal conviction.
Bitwise CIO Warns of Bitcoin Supply Shock as Institutional Demand Looms
Bitwise Chief Investment Officer Matt Hougan has issued a stark warning about Bitcoin’s tightening supply dynamics. With 95% of existing BTC already locked up and annual supply growth dwindling to 0.84%—below gold’s inflation rate—the stage is set for a potential supply crunch.
Institutional capital remains largely on the sidelines, with Hougan noting that 95% of global wealth hasn’t yet touched Bitcoin. This imbalance between shrinking supply and impending demand could fuel what the Bitwise executive describes as a multi-year bull run.
Bitwise CEO Hunter Horsley reinforced the scarcity thesis, highlighting Bitcoin’s unique position as the only major asset with a mathematically capped supply. Market observers note the conditions mirror early stages of previous bull markets, where supply shocks preceded parabolic price movements.
BTC Price Struggles Below $105K Despite Bitcoin ETF Inflows Rise
Bitcoin’s price remains constrained below the $105,000 resistance level, even as institutional investors pour $320 million into BTC ETFs. The cryptocurrency hovered around $103,918 on May 15, unable to sustain momentum after multiple rejections at the key psychological barrier.
Market sentiment appears cautious, with futures premiums declining as traders reduce Leveraged exposure. Bitcoin’s correlation with the S&P 500 has strengthened amid growing recession concerns, creating headwinds for a sustained rally.
ETF inflows suggest continued institutional interest, but macroeconomic uncertainties are dampening bullish enthusiasm. The market now watches for either a decisive breakout above $105,000 or potential retracement as leverage unwinds.
How to 20X Your Altcoin Portfolio: Michael van de Poppe’s Strategy
Bitcoin’s resilience above $100K has shifted focus to altcoins, with early signs of a potential altcoin season emerging. Market analysts observe capital rotation from Bitcoin into altcoins as the key trigger for such cycles, typically marked by declining Bitcoin dominance—currently at 63%.
Michael van de Poppe, a prominent crypto strategist, outlines a high-conviction framework for altcoin investors targeting exponential returns. His approach emphasizes market psychology, precise entry timing, and aggressive risk management during capital rotation phases. June is flagged as a critical inflection point, with ETF inflows and altcoin outperformance hinting at an imminent rally.
Sora Ventures Merges with Top Win, Rebrands as AsiaStrategy to Enter NASDAQ
Sora Ventures is set to enter the public markets through a strategic merger with Top Win International Limited (NASDAQ: TOPW), a Hong Kong-based luxury watch distributor pivoting toward digital assets. The deal, finalized this Friday, will see Sora integrated into TopWin’s existing public structure rather than pursuing an independent IPO.
Founder Jason Fang will serve as Co-CEO alongside Tony Ngai as part of the rebranding to "AsiaStrategy." The move aligns with TopWin’s broader shift into blockchain and Web3, including adopting a Bitcoin-centric treasury strategy. Sora’s institutional bitcoin expertise is expected to accelerate TopWin’s repositioning amid Asia’s growing demand for digital asset exposure.
Bitcoin Poised for June Rally Amid FTX Payouts and ETF Inflows
Bitcoin’s 25% surge since April has positioned it NEAR $106,000, with Matrixport analysts forecasting further gains through July. The rebound to the upper range boundary coincides with two key catalysts: FTX’s stablecoin distributions and accelerating spot ETF inflows.
Seasonal headwinds and tariff deadlines loom in late Q3, but the current setup mirrors historic breakout patterns. Options markets reflect growing institutional conviction, with traders pricing in a 68% probability of new all-time highs by mid-June.
