Optimism surrounding the upcoming US elections, significant inflows into spot Bitcoin exchange-traded funds (ETFs), and various technical indicators suggest Bitcoin's price is poised to reach new all-time highs. Optimism in the market has been fueled by former President Donald Trump's potential return to presidency, with indications that his policies could create a pro-crypto environment, possibly driving Bitcoin prices to $100,000. Additionally, a resurgence in Bitcoin ETF capital inflows, totaling over $23 billion since their inception, indicates strong market interest. The short-term holder Spent Output Profit Ratio (SOPR) metric remains above 1, suggesting that holders are capitalizing on profits without overheating the market, indicating potential for upward movement. The Bitcoin futures market recently saw a significant increase in open interest, pointing towards new money entering the market amidst rising demand. Lastly, technical analyses highlight a possible breakout with a bullish target of roughly $91,362, supported by positive indicators including a favorable 50-day and 200-day EMA crossover. The article concludes that while there are risks, the environment is favorable for further Bitcoin price increases.

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