Analyst: BTC could hit $88K target on strong spot demand

Bitcoin could reach a price target of $88,000, driven by spot demand, according to Markus Thielen, CEO of 10x Research. In a post on X, Thielen stated that the current Bitcoin rally is being driven by spot demand rather than the leverage market, which he described as a structurally healthy trend. He noted that ETF inflows are stable, mining stocks are showing strength, and trends in the options market are also positive. Thielen explained that considering the improvement in trading volume and the moderate increase in fund inflows, the $88,000 price target appears achievable.