Bitcoin Could Extend Rally Toward $138,000 Amid Moderate Investor Interest and Strong ETF Inflows

Key Points

1. Bitcoin's breakout above previous highs is driven by strong ETF inflows and persistent buying pressure from US-based investors, as indicated by the elevated Coinbase Premium Index.

2. The short-term holder Net Asset Value (NAV) premium at 16% suggests controlled optimism, remaining below the 30–35% range associated with FOMO-driven tops, indicating room for further upward movement.

3. Historical trends suggest Bitcoin could see a short-term gain of 10–15% before any significant correction, with a near-term price target between $132,000 and $138,000.

4. Spot Bitcoin volumes have increased by approximately 50% over the past week, signaling heightened market participation, though still 23% below peak levels.

5. Market indicators reflect a balanced but sustained rally in the near term, with potential for further gains before a correction.