Bitcoin price is predicted to have a mega rally to $172,000 in Q4 2024.
Key factors supporting this outlook include increased institutional accumulation of Bitcoin and a potential $16 billion liquidity influx from FTX’s creditor distributions.
Analysts attribute the bullish sentiment to the recent interest rate cut by the U.S. Federal Reserve, historical trends during halving years, and favorable on-chain data.
The potential rally could be fueled by stablecoin issuance, rising leverage in the futures market, and the distribution of $16 billion by FTX to creditors.