Bitcoin Shatters $106K: The Bull Run No One Saw Coming

Bitcoin just bulldozed through another psychological barrier—$106,000—and the market's scrambling to make sense of it. Here's what you need to know.

The catalysts behind the surge

Institutional FOMO meets supply shock. Whales are accumulating, retail’s piling in, and Wall Street’s latest ETF tweaks just added rocket fuel. Meanwhile, miners are sitting on record reserves—classic hodl behavior.

What’s next? A $150K target or a brutal correction?

Technical indicators scream overbought, but since when did BTC care about RSI? The options market’s pricing in 40% volatility, and leveraged longs just hit an ATH. Buckle up.

The cynical take

Some hedge fund manager will inevitably call this ‘digital gold 2.0’ while quietly dumping bags on retail. Welcome to crypto.

Bitcoin$104,726, often referred to as the king of cryptocurrencies, has finally moved away from the $100,000 mark, surpassing $106,000 at the time of writing. This shift comes as some altcoins have experienced double-digit increases. XRP Coin, after releasing a series of positive news last week, continues to rise by 12%, reclaiming key support levels. The pressing question is what QCP Capital analysts are predicting for the NEAR future.

Cryptocurrency Predictions

A pivotal development this week is the end of the prolonged government shutdown, which lasted over 40 days. An agreement for funding to reopen the government has been reached, awaiting approval from the House of Representatives before President TRUMP signs it. This reopening, anticipated to be completed by Wednesday or Thursday, has sparked optimism, causing a rise in stock futures.

Stock futures climbed in response to the Optimism surrounding the imminent end of the government shutdown.

Bitcoin’s Recovery

Last week, Bitcoin’s value often fell below $100,000 but has finally bounced back to $106,000. With the 350-day moving average at $102,800 and two consecutive days of closure below it, investors were worried about the long-term bullish structure being compromised. Now, Bitcoin’s resurgence marks one of the critical developments of the week.

The strong start to ETF flows today will also act as a support. As stated by QCP Capital analysts, “Risk Reversals have become slightly less skewed towards Put options, indicating a reduction in concerns about another sharp liquidation.”

Option Flows and Supply Shocks

Noteworthy insights highlighted by QCP Capital analysts include option activity that has become bi-directional, with older investors offloading Bitcoins, causing some fluctuations in the charts. Analysts mentioned, “Option activity flowed in both directions, with large BTC-26DEC25 112k/120k/150k Call Fly buyers and significant BTC-26DEC25 135k/140k Call Spread sellers. These activities emphasize the divided expectations over whether BTC can retest its all-time high by year-end amidst stagnant momentum and persistent older supply pressure.

Interestingly, the size and randomness of current OG sales reflect the historical supply surpluses from Silk Road and MtGox BTC supplies. However, as seen in previous cycles, markets have previously absorbed similar supply shocks thanks to deeper liquidity and more diversified market participants. This suggests that while OG wallet distributions might be disruptive, they are unlikely to alter BTC’s structural trajectory significantly.”

Crypto Reserve Companies

Crypto Asset Treasuries (Digital Asset Treasuries – DATs) remain the main driver of sentiment. Despite recent concerns about stock buybacks due to NAV imbalance, the rise in BTC prices will provide relief. Supportive macro developments and ETF inflows encourage reserve companies and could potentially increase spot inflows.

While BTC might not see a rise until long-term investors halt their sales, avoiding a decline will be crucial for continued confidence.