BTC price is rising today, March 13, continuing a recovery that started on Monday when it traded at $65,800. This recovery has led to optimism that Bitcoin price will jump to $100k this year, with odds continuing rising on Kalshi and Polymarket.
Traders on Kalshi and Polymarket Boost Odds of BTC Price Hitting $100k
The ongoing Bitcoin price rally has led to rising optimism among investors that it will jump to $100k by the end of this year. To do that, the coin needs to jump by 36% from the current level.
Kalshi data shows that the odds of the coin rising to $100k rose to 36%, its highest level since February. Similarly, a Polymarket poll shows that the probability of it rising to 100k jumped to 42%.
The rising possibility is happening as key data shows that investors are buying the dip. Data compiled by SoSoValue shows that spot Bitcoin ETFs are adding assets this month, a sign of accumulation.
Spot Bitcoin ETFs added $53 million on Thursday, bringing the monthly increase to $1.16 billion. This is a big turnaround considering that these funds experienced four months of outflows in which they lost over $6 billion in assets.
Bitcoin is also doing well as its role as a safe-haven asset rises. It has jumped and experienced ETF inflows during the ongoing Iran war, which has pushed crude oil prices to over $100.
In contrast, gold and stock market ETFs have experienced outflows as investors anticipate that the Federal Reserve will not cut interest rates anytime soon, as oil prices will push inflation higher.
BTC price rose today as the US released a weak PCE Inflation report and as crude oil prices pulled back a bit. Oil dropped as the US waived sanctions on companies to buy Russian oil.
Bitcoin Price Prediction: Technical Analysis
The daily chart shows that the Bitcoin price has formed some bullish technicals. For example, the Supertrend indicator has already flipped from red to green, a sign that it is gaining momentum. The coin is also attempting to flip the 50-day Exponential Moving Average from a resistance into a support.
Meanwhile, top oscillators have continued the strong uptrend. The Relative Strength Index (RSI) has jumped from the extreme oversold level of 15 in January to 56 today. Also, the two lines of the Percentage Price Oscillator are about to cross the zero line.
Therefore, a continued rally may lead to Fear of Missing Out (FOMO), which will push it to $100,000. A rally to that level can be confirmed if it moves above the key psychological levels at $80,000 and $90,000.
Source: https://coingape.com/markets/btc-price-to-100k-by-2026-kalshi-and-polymarket-odds-climb-to-42/