Bitcoin's Record Rally: Experts Predict $200,000 as Market Soars

More than 97% of Bitcoin addresses are currently "in the money," meaning their average acquisition cost is lower than the cryptocurrency's current market rate, signaling bullish implications for the market. This surge in profitable addresses suggests that selling pressure from users attempting to break even no longer has a significant effect, and newcomers entering the market are essentially buying from existing users who are already realizing a profit. Bitcoin's recent bullish momentum, driven by strong inflows into U.S.-based spot exchange-traded funds, has propelled it to a 54% gain this year, with the potential to reach a new record high.