Crypto News

Bitcoin Surges To All-Time Highs: Traders Speculate $100K Milestone As Momentum Builds

Bitcoin’s meteoric rise has captivated traders, now inching toward an anticipated $100,000 valuation.

At $87,100, this level would have been unthinkable just months ago, yet a sharp 70% rebound since the August 5th dip has shifted market sentiment dramatically.

This rally, marked by strong spot demand and significant institutional investment, has driven Bitcoin to new heights, with over 95% of circulating supply now in profit.

Key on-chain indicators reveal powerful buying momentum, a surge in Bitcoin ETF assets under management (AUM), and heightened futures premiums—pointing to potential further gains as Bitcoin continues this phase of all-time highs (ATH).

The recent surge beyond $88,000 has prompted some short-term holders to cash in, transferring their BTC to Binance, which could signal incoming selling pressure. This shift may disrupt Binance’s liquidity, sparking volatility and potentially leading to short-term price dips.

Bitcoin Could Hit $100k In 2024

Monitoring these market activities offers insights into unfolding trends and profit opportunities, helping traders navigate the dynamics shaping Bitcoin’s price trajectory.

Polymarket data now estimates a 68% chance of Bitcoin reaching $100,000 in 2024, closely aligned with earlier predictions. In April, analysts forecasted that Bitcoin would trade between $56,000 and $70,000 in mid-2024, followed by a 63% probability of hitting $100,000 in the second half of the year.

The next projection targets $150,000 in early 2025—a period potentially marked by a more favorable crypto stance with the expected return of President Trump’s administration.

November 11 also marked a milestone for US Bitcoin ETFs, which saw an impressive $1.094 billion in inflows, the second-highest on record.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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