Satoshi’s Six-Figure Prediction Revisited as Bitcoin Approaches $100,000

Bitcoin is nearing the $100,000 mark, prompting renewed interest in Satoshi Nakamoto’s earlier statements. Alex Thorn highlighted a relevant quote from Satoshi as Bitcoin’s price surges again. Currently, over 3 million BTC are back in profit due to the latest price rebound, improving investor sentiment. However, concerns about market volatility remain amid fluctuating options premiums that could be underpriced.

As Bitcoin edges closer to the significant $100,000 milestone, the insights from its mysterious creator, Satoshi Nakamoto, are once again relevant. Alex Thorn, head of research at Galaxy, recently shared a memorable quote from Satoshi that resonates with the current mood surrounding Bitcoin: “It might make sense just to get some in case it catches on. If enough people think the same way, that becomes a self-fulfilling prophecy.” This remark, thought to have been made when Bitcoin was in its infancy, now feels quite prophetic as the cryptocurrency surges again.

On Thursday, Bitcoin reached its highest value since February, climbing near the $100,000 mark. As of writing, the cryptocurrency stood at $99,583, reflecting a 2.66% increase within just 24 hours, according to CoinMarketCap data. Earlier in the day, it had even peaked at $99,919, showing off a remarkable recovery. The price movement since May 5 indicates steady growth, with this day poised to mark four days of consecutive gains, following the lows experienced earlier in the week around $93,000.

This current price surge has significant implications for investors, with over 3 million BTC returning to profitability following a worrying downturn. Since Bitcoin’s drop from its all-time high in December 2024, many investors had been feeling the pinch. But now, as prices begin to rise, more than 3 million BTC have regained value, easing some financial strains. The uptick has also prompted fresh capital inflows, with Bitcoin’s Realized Cap expanding by 2% over the last month.

In a recent report from Glassnode, as the market approached a local low of $74,000, over 5 million BTC were estimated to be underwater, meaning they were valued less than their purchase price. However, following this rebound, that number has roughly halved to about 1.9 million BTC, reflecting a notable return to profitability for investors. Such a shift generally bodes well for investor sentiment, hinting at renewed confidence in the market’s trajectory.

However, while the price per Bitcoin is climbing, Glassnode has pointed out that options markets are experiencing squeezed volatility premiums. This suggests that some investors might be undervaluing the potential fluctuations ahead. Several on-chain indicators have emerged, signalling that the market stands at a pivotal juncture, and any resulting volatility could significantly impact performance going forward.