Market analysts at 10x Research project that Bitcoin could reach $100,000 by January 2025, driven by heightened institutional interest and significant market signals. Their prediction model, with an 86.7% accuracy rate based on the last 15 signals, recently triggered a buy indicator on October 14. The report explained that when Bitcoin reaches a new six-month high, as it did recently, the median return is typically around 40% within three months, which could push the price above $101,000 from current levels.
Search interest in “Bitcoin” since October 2019. Source: Google Trends
Institutional investors like BlackRock view Bitcoin as “digital gold,” a stable long-term asset akin to traditional gold, which has intensified interest. In October alone, Bitcoin ETFs amassed around $4.1 billion, underscoring Bitcoin’s rising appeal among major financial players.
Retail Interest in Bitcoin Remains Muted
Despite Bitcoin nearing new all-time highs—reaching $73,562 on October 29—retail interest appears subdued. Google Trends data shows that search interest for “Bitcoin” is only at 23% of its peak in May 2021. Additionally, the Coinbase app, usually among the top 50 in past bull markets, currently sits in the 308th position on Apple’s App Store, although it recently climbed 167 positions in a sign of slight retail re-engagement.
Bitcoin buy signal. Source: 10x Research
Crypto analyst Miles Deutscher remarked that retail traders remain mostly uninspired despite Bitcoin’s near-record highs. However, CryptoQuant analysts suggest that low retail activity could indicate an impending price rally, as retail investors often buy in during late-stage price surges.
FTX Estate Sues KuCoin to Recover $50 Million in Assets
In a legal move, FTX’s estate, through Alameda Research, has sued crypto exchange KuCoin to recover over $50 million in frozen assets. These funds were originally valued at $28 million before the crypto market rally but have grown significantly. Filed in the U.S. Bankruptcy Court for the District of Delaware, the case claims KuCoin has unjustly withheld these assets since the collapse of FTX nearly two years ago.
Source: Kroll
In response, KuCoin stated that it locked the assets due to “suspicious activities” and has attempted to resolve the issue directly. The exchange confirmed it would adhere to any legal order regarding the disputed funds.
