The crypto world is buzzing with excitement as Bitcoin experiences a surge and substantial inflows into BTC spot ETFs. Daily injections of $500–$650 million are boosting liquidity, setting the stage for a potential BTC spike that could break historical records within the next month.

In January, Nathan Sloan made a bold prediction that’s still turning heads: Bitcoin hitting the monumental $100,000 mark in 2024. With Bitcoin’s recent rally, the burning question remains:

Are we still on track for this significant milestone?

Cracking Sloan’s Code: Guided by Inflation Trends

Sloan’s video analysis hinges on a crucial factor: inflation trends. Using Trueflation’s real-time inflation indicator, Sloan highlights its importance for the crypto market’s fundamental analysis (FA). Despite imperfections, he underscores their value as a guiding light, especially for understanding inflation’s impact on assets like cryptocurrencies.

Bitcoin ETFs Taking the Charge

Shifting focus, Sloan explores Bitcoin ETFs and their influence on market dynamics. Initially facing selling pressure, especially from Grayscale’s Bitcoin Trust, Sloan notes a decline in selling activity. Instead, he observes a surge in interest, largely from big players like BlackRock. This shift suggests a potential decrease in selling pressure and growing institutional interest in Bitcoin.

Also Read: SEC’s Gary Gensler: Bitcoin ETF Nod Doesn’t Guarantee Ethereum ETF Approval

Mapping the Market Phases

Sloan simplifies his analysis using Plan B’s stock-to-flow model, categorizing the current phase as “accumulation.” This phase, with stages like distribution/sell-off, accumulation, and another bull market, signals potential future gains, providing hope to investors amid market fluctuations.

Adding another layer, Sloan looks at seasonality charts to understand the crypto market’s trajectory. By examining historical patterns, he predicts strength in Q4 of the halving year and the following Q1, indicating significant price surges for flagship cryptos like Bitcoin and Ethereum.

Projections and Key Factors

Sloan wraps up his analysis by referencing a log regression chart that projects Bitcoin’s potential trajectory. His projections suggest that by the end of 2024, BTC’s price could hit $100,000, provided macroeconomic factors align with the crypto market’s trajectory. However, Sloan emphasizes the crucial role of factors such as inflation trends, Bitcoin ETF activity, and market seasonality in achieving this milestone.

Read More: ChatGPT Predicts Bitcoin Rally Crossing The $300,000 by 2025

In conclusion, Nathan Sloan’s detailed analysis guides investors through the cryptocurrency markets’ complex path. Sloan’s insights highlight crucial data and market dynamics, helping investors achieve their financial goals with clarity and confidence. The crypto story continues, with all eyes on the horizon for this major milestone.