If you have been reading Bitcoin news this morning you’ll find that Bitcoin selling 100K hats indeed. Now, before you start picturing Satoshi Nakamoto doing a fashion line launch (see, it would be cool though), getting to Bitcoin weekly inflows of 100k BTC.
This metaphorical ‘hat sale’ can only be seen as an indication of Bitcoin’s rising popularity, and more encouragingly, the bullish sentiment would look ahead to 2024-2025.
So let’s take it apart and examine it to understand why Bitcoin is experiencing its moment — and why you should be paying attention.

The Meaning Behind “Bitcoin Selling 100 K Hats”

Let’s clear things up right off the bat: Bitcoin is not actually selling hats. But for all you stylized crypto fashionists out there – sorry, darling.
Rather, this metaphor is being applied to the sheer dumping of Bitcoin into the market, averaging around 100,000 BTC per week, and mostly through institutionalized means like ETFs and OTC trading.
This influx is setting the stage for what several experts have said would be the next Bitcoin enormous bull market. CoinGape

Why is 100K important? In layman’s terms, we can look at the 2021 bull run; where the total BTC inflows for the year were roughly 70k BTC. In 2024, we’re seeing 100K inflows every week! Wow, that’s a big jump, meaning that the desire to buy Bitcoin is on the rise. CoinGape

But this is Bitcoin’s version of selling out of hats before they ever even hit the production line.

The reason for the high demand for Bitcoin’s “Hat Sales”

So, why now? Therefore what is causing these massive inflows into Bitcoin? Several key factors are playing a role in Bitcoin’s current hot streak:

1. Institutional FOMO (Fear of Missing Out): Life has begun looking like a row of dominoes – institutional investors are diving into the Bitcoin market faster than you can say “blockchain.”
   Major financial institutions, hedge funds, and even traditional asset managers are getting in on the action.
   This has been fueled by the increasing regulatory clarity around Bitcoin and the rise of spot Bitcoin ETFs​ MarketBeat.
   
   In fact, ETFs are a major reason for the current demand. With the approval of spot Bitcoin ETFs, institutional investors can now gain exposure to BTC without having to worry about the complexities of custody and security​. Cointelegraph
   
2. Whale Accumulation: If Bitcoin investors’ nicknaming their large counterparts as ‘whales’ has not registered with you well enough, let me help you with that.
   The whales — entities with 1,000 BTCs or more — are buying the BTC at an unprecedented rate, further pushing the BTC price to the upside. These whales are labeled some sort of market manipulator, but their aggressive buying suggests that they are bullish on BTC​. CoinGape
   
3. Over-the-Counter (OTC) Trades: One of the biggest trends in 2024 has been the shift from centralized exchanges to OTC markets.
   Institutional investors and whales are increasingly turning to OTC desks to execute large trades without causing too much price movement. This is another reason why we’re seeing such high weekly inflows of Bitcoin​
   CoinGape
   .

Bitcoin’s Price and Market Momentum: Will It Reach $100K?

With so much Bitcoin flowing into the market, it’s no surprise that prices are surging. At the time of writing, Bitcoin is flirting with the $70,000 mark, with many analysts predicting that the long-anticipated $100K price target is within reach.​ CoinGape

. But what’s driving this price surge?

1. The Bitcoin ETF Effect: Spot Bitcoin ETFs have been a game-changer for BTC’s market dynamics.
   ETFs provide an easy way for institutional investors to buy into Bitcoin without having to deal with private wallets or exchanges.
   This has brought a significant amount of liquidity into the market, pushing prices higher​. Cointelegraph
   .
2. The Halving Factor: Remember, the next Bitcoin halving is already close.
   This usually happens after a Bitcoin halving event, which essentially means that the number of new Bitcoins being created as a block_reward is reduced in half.
   High demand is compounded with low supply, the perfect conditions for a price surge to the upside. CoinGape
   
3. Whale Power: Furthermore, it was established that Bitcoin whales are buying increasing quantities of BTC.
   Large holders generally have a long-term perspective toward their portfolios, and this means less selling pressure and more probability of having an effect on the stability and growth of the object’s price. CoinGape
   .

So, what does this all mean? Okay, if we’re to consider the recent performance, it’s quite possible for Bitcoin to push past $100K soon. In fact, some of the analysts are going as far as expecting the price to hit $250,000 during the next bull run. CoinGape

This is similar to feeling that Bitcoin is just about to sell hundreds of thousands, if not millions of hats, or basically preparing for the invasion.

Why Should You Care?

If you’re reading this on Pro2Crypto, you’re probably already well-versed in the world of crypto. But for those of you still on the fence, here’s why you should pay attention to Bitcoin’s current momentum:

• Increased Adoption: The price is going up and more institutions are getting involved in using it hence creating room for acceptance.
  It’s no longer just a niche investment for tech enthusiasts and libertarians—everyone from Wall Street bankers to everyday retail investors is getting involved.
• DeFi and NFTs on the Rise: Bitcoin isn’t some mere store of ideal money or digital gold anymore.
  It can be the starting point of such trends as decentralized finance (DeFi) and non-fungible tokens (NFT) providing access to new financial products and services.
  However, as Bitcoin becomes more valuable, more enhancements in the related field will be witnessed in the market.
• Market Maturity: Contrary to previous bull runs that were basically driven by speculation and greed, this current bull run is attributed to practical realities such as ETF conversions, regulatory approval, and institutional participation.
  This means that Bitcoin could be transitioning from a type of asset that is highly volatile to a type of asset that is steady in price and has a possibility of sharply rising in the future.

Read Also: ASML Stock, GPU Coins, and a Decentralized Future: How Semiconductor Giants Impact Crypto

Wrapping It Up: Should You Buy Your Bitcoin Hat Now?

Irrespective of your experience on the blockchain, now could be the best time to grab your Bitcoin hat as they say.
As institutional interest continues to increase, the accumulation of whales intensifies, and there is also the possibility of a BTC price reaching $100K this year, everything is looking up for the world’s most popular cryptocurrency.

Nevertheless, as is always the case with crypto markets, make sure that you do adequate research and do not take anything said like “Bitcoin Selling 100 K Hats” here or anywhere else as advice on what you should or should not do.

There you have it—Bitcoin selling 100 K hats, a metaphor for the massive inflows and bullish momentum driving the crypto market in 2024.
Whether you’re ready to invest or just enjoying the ride, one thing is for sure: Bitcoin isn’t slowing down anytime soon.

Pro2Crypto readers, are you ready to see where this Bitcoin bull run takes us? Buckle up—it’s going to be one heck of a ride!