Satoshi’s Words Resurface as Bitcoin Nears $100K Milestone

As Bitcoin edges closer to the $100,000 mark, a famous quote from its mysterious creator, Satoshi Nakamoto, is gaining renewed attention: “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 early remark, recently highlighted by Alex Thorn, Head of Research at Galaxy, encapsulates the current mood in the crypto market.

Bitcoin has climbed steadily since May 5, rising from lows near $93,000 to a high of $99,919. At the time of writing, the leading cryptocurrency is trading at $99,583, marking a 2.66% gain in the last 24 hours and a 4% increase over the past week. If the rally continues, this would be Bitcoin’s fourth straight day of gains and its strongest level since February.

This price recovery has had a significant impact on market sentiment. More than 3 million BTC have returned to profitability, reducing investor stress from losses incurred since the December 2024 all-time high. According to Glassnode, only 1.9 million BTC remain under water, down from 5 million at the market’s recent low of $74,000.

Additionally, fresh capital inflows have pushed Bitcoin’s Realized Cap up by 2% over the past month, further supporting the bullish narrative. However, options market data indicates compressed volatility premiums, suggesting traders may be underestimating future price swings.

As Bitcoin hovers just below six figures, investors are increasingly revisiting Satoshi’s original vision, reinforcing the idea that widespread belief in Bitcoin’s value could, indeed, continue to drive its ascent.