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    Bitcoin on track for $100,000 milestone amid market fluctuations and record ETF investments

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    Bitcoin remains on track to hit $100,000 despite a brief drop below $85,000 due to $2.7 billion in options expiry. Blake Player from VALR and Crypto.com CEO Kris Marszalek are confident that less leverage will help Bitcoin reach the $100,000 milestone. Record investments in ETFs and a surge of stablecoins to crypto exchanges support this optimism. However, Szymon Sypniewicz from Ramp Network warns that market fluctuations are inevitable.

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    Bitcoin is still heading towards the $100,000 value milestone despite concerns over a drop below $85,000 due to a $2.7 billion option’s expiry last Friday. A massive number of Bitcoin options contracts, worth over $2.67 billion, expired on November 22. This caused a “max pain” point at $85,000. However, Bitcoin quickly bounced back, hitting an all-time high of $99,523 30 minutes before the options expiry. Even with a slight drop after that, the price remained steady around $97,805.

    Even with the $2.6 billion Bitcoin options expiry, experts like Blake Player, who leads growth at VALR, believe that it won’t strongly affect the ongoing Bitcoin rise. He thinks that while options expiry means less open interest and leverage in the market, people who want to stay invested in the long or short-term have other options.

    Kris Marszalek, the co-founder and CEO of Crypto.com, hinted on November 12 that such a decrease in leverage could actually help the Bitcoin rally. His belief is that a “deleveraging” must happen in the crypto market before Bitcoin can surpass the $100,000 point.

    Looking ahead, Bitcoin is almost at $100,000, boosted by over $1 billion investments into ETFs. An inflow of stablecoins to crypto exchanges hit a monthly record of over $9.7 billion on November 22. Many analysts are now confident that Bitcoin can reach an all-time high of $100,000 before the end of this November. The rise in Bitcoin investment through US-based ETFs also plays a role in this optimism.

    However, Szymon Sypniewicz, co-founder and CEO of Ramp Network, thinks predicting Bitcoin’s exact timing for its next big move is tricky. While he agrees that Bitcoin reaching $110,000 is bound to happen sometime, the journey won’t be smooth and could see some ups and downs. Meanwhile, Bitcoin continues its upward trend, reaching over $99,000 on November 22, which is historically a good month for Bitcoin returns.

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