Bitcoin is back, baby, bitcoin is back in a big way! It has continued to peak over the $90,000 threshold, propelled by bullish support from on-chain metrics and institutional inflow. Long-term holders are adding to their positions, while Bitcoin ETFs are seeing record net inflows. Bitcoin targeting $100,000 and generating excitement among investors. In reaction, the $BTCBULL token is introducing an innovative “milestone farming” mechanism to incentivize its holders.

Bitcoin’s recent chart is indicative of a strong recovery from its early April low. The cryptocurrency went over $94,000 on Wednesday before retreating back below that level. This price increase is driven by growing bullish sentiment in the market and the strategic buying up of assets by smart, long-term investors.

Bitcoin Accumulation and Market Confidence

LTHs have been aggressively accumulating long-dormant coins. They have added 635,340 $BTC into their stashes bringing their total hold to an impressive 13.7 million $BTC. This accumulation trend is an indication of high conviction by veteran investors.

Whenever short-term holders (STHs) sold 1 $BTC, long-term holders (LTHs) have purchased 1.38 $BTC. Such a high ratio shows a profound strategic change from the market, with savvy veteran investors taking advantage of short-term volatility.

Bitcoin ETFs are yet another contributing factor to the most recent all-time high. For the past two days they have dominated net inflows with more than $900 million net inflow each day, Wednesday’s inflow coming to just over $917 million. These inflows illustrate the increasing institutional interest and confidence in Bitcoin’s long-term potential.

Options Market and Price Targets

The Bitcoin options market is increasingly indicating signs of bullish sentiment. Open interest in Bitcoin call options—especially those aiming for that milestone $100,000 level by month-end—has exploded, overshadowing the put interest. This means that speculators are wagering on continued price appreciation.

That’s highly speculative, as options traders are betting on moves well over $100k. Notable open interest as well on Bitcoin calls at $110,000, $140,000 and as high as $150,000! That would imply that a significant portion of investors expect to realize huge returns in the short term.

Bulls are getting even more aggressive as they’re selling cash-secured puts. This trend reflects their increasing confidence in the stability of $BTC prices and their willingness to pile it at appealing valuations. This strategy offers the opportunity for traders to buy Bitcoin at a discount if the option is exercised.

$BTCBULL and Milestone Farming

While Bitcoin reaches for new all-time highs, the $BTCBULL token has debuted with an innovative 3-level rewards programming. Once we hit $150,000, the milestone farming mechanism is triggered, releasing real Bitcoin airdrops for each $BTCBULL token you hold. This unique, game-changing design encourages long-term holding and directly rewards token holders every time Bitcoin hits important milestones.

The $BTCBULL token price is still $0.00248 with the next tier enabling in less than two days! This creates a unique opportunity for early investors to buy tokens before the next milestone is unlocked.

The $BTCBULL token incorporates a novel antagonistic tokenomics mechanism that burns 5% of tokens forever. This process is similar to Bitcoin’s halvings. The mechanism is deflationary because it may make the remaining tokens more valuable over time.

Analyst Perspectives

Bitcoin’s current price movements have analysts on the edge of their seat as they share predictions on where this coin may head next. And heads up — none other than Ted Pillows boasted that Bitcoin is headed to $102,000-$106,000 by June.

"I think here’s how it can play out 👇 ▫️ Pump towards $102K-$106K by June ▫️ Correction to $94K-$96K in Q3 ▫️ Reversal and breakout leading into Q4 which will also be most likely the blow-off top." - Ted (@TedPillows)

Another Dannyville OG, Jack O., an OTC trader at Wintermute, agrees that June will be make or break for Bitcoin. He thinks it can go as high as $110,000, playing into the bullish sentiment around Bitcoin’s short-term prospects.