Bitcoin Soars 9.5% to $64K as Analysts Forecast Six-Figure Prices on Growing Adoption
• Bitcoin rose 9.5% on Wednesday for its biggest single-day percentage gain since October 23. Prices reached $64,000.
• Analysts forecast bitcoin continuing to move higher, potentially reaching $100,000-$200,000 by 2024-2025.
• Bitcoin ETFs have introduced "passive demand," attracting investors who see bitcoin as a store of value rather than a volatile asset.
• The bitcoin cash and carry arbitrage strategy now yields over 14% annually, more than 3 times the 10-year Treasury yield.
• The high yield in bitcoin futures could attract more market makers, deepening crypto market liquidity.