Bitcoin (BTC) price prediction: Public company purchases exceed ETF, BTC is set to refresh the historical high of $112,000.

FXStreet analyst Alexander Kuptsikevich stated today that the market capitalization of Crypto Assets is approaching $3.40 trillion. The momentum for Bitcoin to reach the $110,000 threshold has created conditions for a bigger pump in alts, with Ethereum rising 6%, DOGE and Cardano rising over 7%.

The sentiment index rose to 73, returning to the upper limit of the range over the past three months—this is an important preparatory stage for the first cryptocurrency to rise further.

Bitcoin broke through the $109,500 threshold last night. At the opening on Thursday, the price of Bitcoin briefly retraced by $1,000, but quickly rebounded to the high point of early June.

Given the high risk appetite in the global market, the historical high of about $112,000 set at the end of May may be tested or refreshed before the end of this week.

However, it is worth mentioning that the U.S. monthly employment report, which will be released later on Thursday, could either be a catalyst or a significant obstacle.

According to Glassnode's data, 96.7% of Bitcoin's supply is in profit, indicating a high volatility risk.

QCP Capital stated that the Bitcoin purchases by listed companies have exceeded ETFs for three consecutive quarters, thanks to the stable BTC price. At the same time, the U.S. Securities and Exchange Commission (SEC) is accelerating the approval of exchange-traded funds (ETFs) based on Crypto Assets.

The regulatory authority has approved the issuance of ETFs based on Ethereum (ETH) and Solana (SOL) with staking capabilities, and has approved Grayscale Fund (Grayscale Fund), which covers BTC, ETH, XRP, SOL, and ADA.

Standard Chartered predicts that the price of Bitcoin will grow to $135,000 in the third quarter and reach $200,000 by the end of the year. The main drivers of this growth will be the inflow of spot ETFs and corporate purchases.

According to The Block, in June, the share of decentralized exchanges (DEX) in the global spot cryptocurrency trading volume reached a record 29.65% compared to traditional cryptocurrency exchanges (CEX).

CEX's monthly trading volume has dropped to its lowest level since September 2024.

According to a survey by Kronos Research, traders are turning to DEX due to a loss of confidence in CEX, lower fees, and a desire to independently store assets.