Therefore, we can expect a recent recovery in the price of Bitcoin

At the time of writing, Bitcoin is trading at $64,264 after a mostly bearish week. But there are three reasons why we might think a market recovery could be on the way.

First, there have been significant sales recently Bitcoin , including the transfer of 25,000 BTC worth $1.6 billion from a “dormant” wallet. Separately, another whale transferred 11,000 BTC for over $700 million with the alleged intent of selling.

However, on the back of the recent decline, the bears seem to be running out of steam, which could lead to more buying and subsequent price recovery, as the price currently looks like a suitable entry point.

Second, contrary to last week's $545 million in outflows from spot Bitcoin ETFs, issuers remain optimistic about a rebound next week.

They expect renewed inflows despite recent sluggish trading activity and concerns about Bitcoin's near-term performance.

And finally, the potential OK of the S-1 applications for spot Ethereum An ETF from the Securities and Exchange Commission could have a positive impact on Bitcoin.

The SEC's recent decision to cancel from the Ethereum 2.0 investigation shows a favorable outcome for Ethereum ETFs, which bodes well for Bitcoin as well.

These factors contribute to the belief that reaching $100,000 in Bitcoin in the medium term remains a possibility.