In the last few days, there have been big changes in crypto land. In just 24 hours, more than $550 million was liquidated. When Bitcoin fell to its weekly low, it caused a flood of sell-offs that caused about 170,000 traders to lose money on their accounts. Related Reading: Solana (SOL) ATH Sparks $309 Price Prediction Frenzy – Details Coinglass reports such tremendous losses to be placed at $118 million in BTC longs, $54 million in ETH longs, and even $25 million in Dogecoin long positions. This surge in liquidations, in conjunction with a decrease in market capitalization and trading volume, emphasizes the volatility that traders have come to anticipate. This is perceived by analysts as a component of a more extensive pattern of corrections that have occurred in the wake of Bitcoin’s recent rally to near-record levels. Bitcoin Dominance & Liquidation Trends Bitcoin’s dominance remains robust, with a current market capitalization of $3.23 trillion, which accounts for over 56% of the total crypto market. The highest liquidation of the day was a $4.67 million BTC/USDT exchange on Binance, which is indicative of the high stakes involved in leveraged trading. Additionally, altcoins were not spared. Significant declines were observed in tokens with a smaller market capitalization, with the broader market losing approximately $100 million. Some analysts think this is just another usual correction, following the hefty close to 44% rise in Bitcoin price since early November. At present, the crypto Fear and Greed Index stands at 82, suggesting that the prevailing dominance in the market is still “Extreme Greed.” Ethereum And Altcoins Maintain Their Poise Ethereum remains resilient, despite the fact that it was not spared from the day’s losses. The uncertain sentiment surrounding the second-largest cryptocurrency was underscored by a combination of long and short liquidations in ETH positions. In the interim, altcoins such as Dogecoin, which were frequently bolstered by meme-driven enthusiasm, experienced the repercussions of market corrections, a warning to traders who were seeking rapid profits. An industry analyst named Miles Deutscher noticed that more traders are reactivating their wallets after not using them for months. They are doing this because they are interested in the possibility of altcoins and Bitcoin’s strong performance. As the market continues to follow its usual trends, this increase in activity could lead to both growth and volatility. Related Reading: XRP Below $1? Not Happening, Claims Millionaire Analyst The Road Ahead For Bitcoin At $92,801, Bitcoin still lags somewhat behind its all-time high of $99,750, attained earlier this month. The next action divides analysts; some believe the market is ready for consolidation prior to another surge beyond $100,000. Others caution that overlevers may cause short-term greater volatility. Investors are keenly monitoring market mood and macroeconomic factors. Although current conditions may promote bullish momentum, the crypto market’s severe price volatility and huge leverage risks remind us of its unpredictable nature. Featured image from DALL-E, chart from TradingView
After reaching a new all-time high of $99,600 last Friday, the Bitcoin price has retraced to the $94,000 mark for the first time in nearly a week. This pullback comes amid growing speculation about a possible correction following a massive three-week uptrend that saw the leading crypto surge by 40% after Donald Trump’s election on November 5. Bitcoin Price May Drop To $70,500 Market expert and technical analyst Rekt Capital recently voiced concerns on social media platform X (formerly Twitter), drawing parallels with historical price cycles. He highlighted that in the 2013 cycle, the Bitcoin price experienced six weeks of rising prices leading into what is known as “Price Discovery,” followed by its first major correction in Week 7. Similarly, in the 2017 cycle, a seven-week rally culminated in a significant retracement of 34% in Week 8. In the 2020/2021 cycle, Bitcoin rallied for six weeks before facing its first meaningful pullback of 16%.Currently, Rekt Capital notes that Bitcoin is in the fourth week of its current uptrend. Related Reading: Ethereum Analyst Predicts $3,700 Once ETH Breaks Through Resistance Based on these historical patterns, it suggests that the cryptocurrency may be poised for a retest of lower support levels within the next two to four weeks, aligning with the previous trends, where the average declines have been substantial. Considering the data from past corrections, the Bitcoin price could experience a 25% pullback, potentially bringing the price down to around $70,500—a level not seen since the election day. Who’s Selling Bitcoin? Contributing to the current pullback, data from on-chain market intelligence firm Glassnode reveals that long-term holders (LTHs) have significantly increased their selling activity, with a notable selling pressure recorded at -366,000 BTC per month—the highest level seen since April 2024. The analysis indicates that among long-term holders, the 6 to 12-month cohort is leading the charge, averaging 25,600 BTC sold per day. This group of investors has capitalized on the recent Bitcoin price surge, having acquired their coins at an average cost basis approximately 71% lower than the current market price, which hovers around $57,900. Related Reading: Rocket Fuel For Shiba Inu Price: Kusama Says 99% SHIB Supply Burn Possible The increase in selling pressure among this group also reflects a potential shift in market movement in the coming days. With Bitcoin hitting new all-time highs just below $100,000, some investors may choose to take profits rather than ride out potential volatility. At the time of writing, the largest cryptocurrency on the market is trading at $94,000, recording a retracement of nearly 5% on the 24-hour time frame. For the time being, however, the Bitcoin price continues to post gains in all other time frames, with the year-to-date being the most notable with a 150% surge in that time period. Featured image from DALL-E, chart from TradingView.com
Bitcoin price is correcting gains below the $96,500 resistance. BTC is now trading below $95,000 and might face hurdles near the $95,750 resistance. Bitcoin started a downside correction from the $98,880 zone. The price is trading below $96,000 and the 100 hourly Simple moving average. There was a break above a short-term bearish trend line with resistance at $94,200 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start another increase if it clears the $95,750 resistance zone. Bitcoin Price Corrects Gains Bitcoin price struggled to extend gains above the $98,800 and $99,000 levels. BTC started a downside correction below the $97,000 and $96,000 levels. It even dipped below $95,000. A low was formed at $92,550 and the price is now rising. There was a move above the $93,800 resistance level. The price cleared the 23.6% Fib retracement level of the downward move from the $98,880 swing high to the $92,550 low. Besides, there was a break above a short-term bearish trend line with resistance at $94,200 on the hourly chart of the BTC/USD pair. Bitcoin price is now trading below $96,000 and the 100 hourly Simple moving average. On the upside, the price could face resistance near the $95,200 level. The first key resistance is near the $95,750 level. It is close to the 50% Fib retracement level of the downward move from the $98,880 swing high to the $92,550 low. A clear move above the $95,750 resistance might send the price higher. The next key resistance could be $97,350. A close above the $97,350 resistance might initiate more gains. In the stated case, the price could rise and test the $98,880 resistance level. Any more gains might send the price toward the $100,000 level. Another Dip In BTC? If Bitcoin fails to rise above the $95,750 resistance zone, it could start another downside correction. Immediate support on the downside is near the $93,800 level. The first major support is near the $92,500 level. The next support is now near the $90,000 zone. Any more losses might send the price toward the $88,000 support in the near term. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level. Major Support Levels – $93,800, followed by $92,500. Major Resistance Levels – $95,750, and $97,350.
Long-term Bitcoin holders are showing signs of growing greed as the price of BTC steadily approaches the $100,000 mark. A crypto analyst has underscored the significance of this market trend, highlighting that a possible Bitcoin market top could be incoming in the next few months. Long-Term Holders Stay Greedy On-chain data from Glassnode reveal that long-term Bitcoin holders are showing a significant level of greed, which continues to intensify as the price of BTC maintains its bullish trajectory. While the flagship cryptocurrency inches closer to the anticipated $100,000 milestone, these long-term holders, or HODLers, stay relentless, showing no signs of selling their holdings despite rising prices and increasing profits. Related Reading: Dogecoin ATH Incoming? Analyst Issues 2-Day Price Forecast Data from the market intelligence platform IntoTheBlock indicates that 98% of Bitcoin holders are making profits at the current market price. This underscores Bitcoin’s remarkable performance this month, as most long-term holders acquired their holdings at prices lower than BTC’s current market valuation. Popular crypto analyst Ali Martinez noted in an X (formerly Twitter) post that historically, a growing increase in Bitcoin long-term holders’ greed suggests the potential for an imminent price leap to new highs. He revealed that when holders’ greed showed elevated levels in previous bull cycles, it took 8-11 months for Bitcoin to reach a new market top. The analyst has predicted that if this trend holds true, the market should expect Bitcoin to hit a potential price peak between June and September 2025. Based on his price chart, Bitcoin long-term holders showed extreme levels of greed during the previous bull markets that followed the cyclic halving events. The steady increase in long-term holders’ greed can be taken as a good sign, as this suggests that fewer coins are in circulation or available for trading, ultimately creating scarcity. With demand for Bitcoin rising amidst bullish market trends, the cryptocurrency price could eventually hit the coveted $100,000 price mark. While the broader market and numerous crypto analysts anticipate a breakthrough to $100,000, many Bitcoin holders are demonstrating firm resolve by holding onto their assets. This unwavering courage in Bitcoin’s potential discourages panic selling during the current bull market, as the market remains optimistic about further price surges in the cryptocurrency. Related Reading: Dogecoin Extends Rally – Can This Lead To A Breakout Above $0.82? Bitcoin Price Could Hit $100,000 Today In a more recent X post, Martinez revealed that today could be the day Bitcoin finally reaches its $100,000 all-time high. The analyst revealed that the SuperTrend indicator on the Bitcoin hourly chart has flipped bullish, indicating that prices have broken through a resistance trend line and the Relative Strength Index (RSI). The price of Bitcoin is currently trading at $98,288, reflecting a 7.16% increase over the past week. To reach the $100,000 milestone, the cryptocurrency needs to rise by $1,712, requiring only a 1.74% increase from its current price. Featured image created with Dall.E, chart from Tradingview.com
Traders have had a torrid start to the week, as over $500 million has been liquidated from the crypto market in the last 24 hours. This has been due to the Bitcoin price, which has continued to fluctuate heavily in recent times. $500 Million Liquidated As Bitcoin Price Fluctuates Coinglass data shows that over $500 million was liquidated from the crypto market in the last 24 hours as the Bitcoin price fluctuates. Long traders suffered the most loss, with over $366 million in long positions liquidated. Meanwhile, over $129 million in short positions were liquidated in the last 24 hours. Related Reading: Dogecoin Extends Rally – Can This Lead To A Breakout Above $0.82? This came as the Bitcoin price dropped significantly from around $98,000 to as low as $95,500 on Sunday. Bitcoin has since recovered and is back again over $98,000. This heavy BTC price fluctuation has been the case since the flagship crypto came close to hitting the $100,000 milestone on November 23. The Bitcoin price has since witnessed major pullbacks followed by a sharp rebound, leading to mass liquidations as traders struggle to determine the future trajectory of the flagship crypto. These pullbacks have come as investors look to secure profits, seeing as the flagship crypto is approaching this psychological $100,000 price level. However, some whales remain undeterred as they recently bought $3.96 billion BTC in 96 hours. Notably, Bitcoin miner Marathon Digital bought 5,771 BTC ($572 million) at an average price of 95,554 per BTC. Although this Bitcoin price range might be the local top, the flagship crypto is still expected to go higher, which explains why these whales are still actively accumulating more BTC. Asset manager VanEck recently stated that $100,000 is only the beginning and predicted that Bitcoin could still reach as high as $180,000. Today Could Be The Day Crypto analyst Ali Martinez recently predicted that today could be the day the Bitcoin price finally reaches the much-anticipated $100,000 milestone. This came as he revealed that the SuperTrend indicator had flipped bullish on the Bitcoin hourly chart as prices broke through the resistance trendline and the Relative Strength Index (RSI). Related Reading: XRP Price Reaches 3-Year High At $1.6 – 2 Ways It Can Go From Here In another X post, Martinez suggested that $100,000 won’t be the cycle top for the Bitcoin price in this bull run. He stated that long-term Bitcoin holders are showing signs of growing greed. The analyst claimed that historically, this suggests that it could take 8-11 months for Bitcoin to hit a market top. If this historic trend continues, the Bitcoin price could peak between June and September 2025. Crypto analysts like Rekt Capital have also predicted that this period could mark the peak for Bitcoin in this bull run. At the time of writing, the Bitcoin price is trading at around $98,300, up in the last 24 hours, according to data from CoinMarketCap. Featured image created with Dall.E, chart from Tradingview.com
Business intelligence firm MicroStrategy has significantly increased its Bitcoin (BTC) purchases this month in response to the bullish sentiment following President-elect Donald Trump’s victory on November 5. The company’s recent acquisitions have pushed its total Bitcoin holdings to approximately $38 billion. Convertible Notes Fuel Massive Bitcoin Purchase On November 25, co-founder Michael Saylor announced via social media that MicroStrategy had acquired 55,500 BTC between November 18 and November 24 for $5.4 billion. This purchase was funded by proceeds from a $3 billion convertible note issuance and sales of common shares, as detailed in a filing with the US Securities and Exchange Commission (SEC). Related Reading: XRP Price Builds a Base: Can Bulls Ignite a New Rally? Since beginning its Bitcoin acquisition strategy in 2020, Saylor has shifted from using corporate cash to a more complex funding model that involves selling convertible debt and shares. The latest convertible note was issued at a zero percent interest rate, reflecting lenders’ confidence that MicroStrategy’s stock will appreciate beyond the conversion price in the future. Jeffrey Park, a portfolio manager at Bitwise Asset Management, noted that Saylor has effectively leveraged financial arbitrage within the corporate treasury structure, allowing MicroStrategy to borrow funds at virtually no cost. Saylor also revealed that MicroStrategy’s treasury operations have yielded a substantial 59.3% in Bitcoin returns year-to-date, translating to a net gain of approximately 112,125 BTC for shareholders, or about 341 BTC per day. At a projected price of $100,000 per BTC, Saylor stated that this could mean an impressive $11.2 billion for the year, equating to roughly $34.1 million daily. Analyst Warns Of Risks In Leverage Strategy Since its foray into Bitcoin, MicroStrategy has acquired a total of 386,700 tokens, with an average purchase price significantly lower than its current market value. The latest acquisitions occurred while Bitcoin prices were nearing all-time highs, with the company purchasing the new tokens at approximately $97,862 each, slightly above their current trading price. Related Reading: Solana (SOL) Bulls Stay in Control: Rally Far From Over? However, this leveraged strategy has raised concerns among some analysts, particularly after MicroStrategy’s shares (MSTR) fell by 16% last Thursday. Critics warn that if Bitcoin’s price declines sharply, the company’s stock could suffer similarly, recalling the downturn in 2022 when the cryptocurrency market experienced significant losses. TD Cowen analyst Lance Vitanza remarked on the risks associated with leverage, stating, “When you apply leverage to anything, you amplify the returns both in the up direction and in the down direction.” He emphasized that MicroStrategy is a pioneer in applying this leverage strategy specifically to Bitcoin. At the time of writing, the market’s leading crypto is trading at $95,350, registering a price decrease of 1.7% in the 24-hour time frame. Featured image from DALL-E, chart from TradingView.com
Bitcoin price is consolidating below the $100,000 resistance. BTC bulls might soon attempt to breach the stated milestone and push the price further higher. Bitcoin started a fresh increase above the $96,500 zone. The price is trading below $98,000 and the 100 hourly Simple moving average. There is a connecting bearish trend line forming with resistance at $98,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could continue to rise if it clears the $98,000 resistance zone. Bitcoin Price Eyes More Upsides Bitcoin price remained supported above the $92,500 level. BTC formed a base and started a fresh increase above the $96,000 level. It cleared the $97,500 level and traded to a new high at $99,650 before there was a pullback. There was a move below the $98,000 level. A low was formed at $95,973 and the price is now rising. There was a move above the $96,800 resistance level. The price cleared the 50% Fib retracement level of the downward move from the $99,650 swing high to the $95,973 low. Bitcoin price is now trading below $98,000 and the 100 hourly Simple moving average. On the upside, the price could face resistance near the $98,000 level. There is also a connecting bearish trend line forming with resistance at $98,000 on the hourly chart of the BTC/USD pair. The trend line is close to the 61.8% Fib retracement level of the downward move from the $99,650 swing high to the $95,973 low. The first key resistance is near the $99,000 level. A clear move above the $99,000 resistance might send the price higher. The next key resistance could be $100,000. A close above the $100,000 resistance might initiate more gains. In the stated case, the price could rise and test the $102,500 resistance level. Any more gains might send the price toward the $105,000 level. Downside Correction In BTC? If Bitcoin fails to rise above the $98,000 resistance zone, it could start a downside correction. Immediate support on the downside is near the $96,800 level. The first major support is near the $95,750 level. The next support is now near the $95,000 zone. Any more losses might send the price toward the $92,000 support in the near term. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $96,800, followed by $95,000. Major Resistance Levels – $98,000, and $100,000.
Recent gains in Bitcoin are owed in part to changes in the political environment, particularly in the US. Incoming US President Donald Trump is backing cryptocurrencies, sparking renewed market optimism among investors. Related Reading: Ripple CEO Reacts To Trump’s Billionaire Treasury Secretary Nominee From reforms in regulatory structures to a proposal for a national Bitcoin […]
All eyes are on Bitcoin, especially as many traders continue to anticipate a break above the $100,000 mark. This anticipation has cascaded into a spike in activity, especially among Bitcoin whales. Interestingly, Bitcoin whales are making bold statements amidst the anticipation, with on-chain data pointing to an accumulation of over 40,000 BTC in just 96 […]
The price of Bitcoin (BTC) rose by 7.99% in the past week to reach a new all-time high of $99,655 on November 22. Thereafter, the maiden cryptocurrency has experienced a slight retracement in the past 48 hours falling to around $98,200. However, speculations of a major price correction continue to emerge considering BTC’s impressive price […]
The Bitcoin price rally towards the $100,000 mark is the talk of the crypto industry. Notably, the Bitcoin price has reached new all-time highs for four consecutive days on the path to this $100,000 price level, with the latest being an intraday high of $99,645 in the past 24 hours. Interestingly, the ongoing bullish sentiment […]
Despite heightened expectations for the Bitcoin price to hit the $100,000 milestone, a crypto analyst has surmised that this key target could present psychological resistance for the pioneer cryptocurrency. Amidst this bearish warning, the coin’s price’s continued upward movement towards the elusive $100,000 mark has become the center of attention in the crypto community. Related Reading: Bitcoin Price Mirrors 2017 Pattern, Is The Top Only 2 Weeks Away After Hitting $100,000? $100,000 Bitcoin Price As A Psychological Resistance Crypto analyst Gert van Lagen recently took to X (formerly Twitter) to announce to his 108,000 followers that the Bitcoin price is approaching the $100,000 all time high. The analyst has suggested that its climb to $100,000 would be like hitting major price levels of $10, $100, and $10,000 for the first time. According to Lagen, the $100,000 milestone is set to present a psychological resistance for Bitcoin, potentially leading to short-term price volatility. Based on the analyst’s statements, this psychological resistance could temporarily stall the crypto’s rally above $100,000. While sharing this bearish warning, Lagen also issued a bullish forecast for Bitcoin, highlighting that a surge to the target zone of $220,000 to $320,000 was likely before the global recession set in. While this prediction could be well received by BTC if it continues on its bullish momentum, the analyst has asserted that the timeline to reach these heights may be limited. In preparation for the projected Bitcoin psychological barrier, Lagen has advised crypto investors to short their BTC at the $100,000 mark. Traders who leverage this strategy will have to bet on the possibility of a price correction in Bitcoin before it experiences any significant breakout to the upside. With Bitcoin approaching the $100,000 price level, the stakes are getting higher, as analysts believe that this key milestone could serve as a launch pad to propel the cryptocurrency to a price top. For now, the price is trading at $98,560, marking a 7.63% increase in the last seven days as bullish sentiment and momentum continue to grow. Massive Liquidation To Follow If BTC Hits $100,000 Although the crypto market is anticipating Bitcoin’s price rise to $100,000, a prominent analyst has revealed that massive liquidation could be triggered once BTC reaches this fundamental level. According to Ali Martinez, $1.89 billion is set to be liquidated if Bitcoin jumps to the $100,625 level. Based on the analyst’s chart, this Bitcoin liquidation represents its “cumulative short liquidation leverage.” This analysis follows reports of a large-scale Bitcoin liquidation, as Martinez recently revealed that a whopping 65,000 BTC, valued at $6.37 billion, was withdrawn from exchanges. Related Reading: Chinese Court Declares Personal Crypto Ownership Legal In Mainland China Martinez has also revealed that Bitcoin’s TD Sequential is flashing a sell signal on its 4-hour chart. Given this, the analyst has predicted a significant correction to the $97,085 mark. On the flip side, the analyst has disclosed that if Bitcoin can hold a candlestick above $100,470, it would invalidate the bearish formation and potentially propel its price towards $102,656 or $104,343. Featured image from Pexels, chart from TradingView
A crypto analyst who accurately forecasted the Bitcoin price increase to the $99,000 All-Time High (ATH) has just released a more detailed analysis of his prediction. The analyst shared a chart highlighting crucial technical indicators and price movements that suggest the cryptocurrency could be gearing up for an even higher ATH. Analyst Projects $105,000 As The Next Price Target Weslad, a TradingView analyst, has raised his Bitcoin price forecast, predicting the next upside target at $105,764 as the crypto market bull run gains momentum. The analyst reported that BTC has officially entered the bull market phase, characterized by explosive price increases and positive market sentiment. Related Reading: Bitcoin Price ATH Set To Cross $139,000 According To Previous Election Cycles His recent bullish prediction of the Bitcoin price is grounded on a key technical pattern known as the “Ascending Channel,” which indicates a bullish trend continuation. This chart pattern consists of two upward-sloping trend lines drawn parallel to each other, representing the resistance and support price levels, respectively. Despite his optimistic outlook for the BTC price, Weslad has revealed that investors should anticipate a corrective move toward the immediate buy-back zone, which would provide an optimal entry point for opportunistic buyers. The analyst has also shared a detailed price chart that highlights the bullish ascending channel and key price levels that Bitcoin could reach in the short-term and long-term. Overview Of The Analyst’s Bitcoin Price Chart Analysis In his 4-hour Bitcoin chart, Weslad visualizes the cryptocurrency’s price action within an ascending channel, highlighting that the BTC is moving upwards within two trendlines. The analyst has provided a detailed roadmap for his $105,764 bullish target for the Bitcoin price. Weslad highlighted the price range between $91,000 and $92,000 as an “important demand zone,” which acts as strong support where buyers are likely to step in if BTC slips any further. He also revealed that the price level at $94,327.99 has been identified as an ”immediate buy-back zone,” which also serves as an optimal entry point if BTC experiences any corrective pullback in its price. Related Reading: Crypto Analyst Predicts 37% Upshoot For Dogecoin Price, Points Out Support Levels The analyst has also highlighted $97,537 as the “immediate profit target,” suggesting that traders may consider locking in profits at this critical short-term price level. He has also pinpointed the “mid-term target” for the Bitcoin price, highlighting that the $100,334 mid-term level is important for investors holding longer positions. Lastly, Weslad has highlighted $105,764 as the “projected final target” for Bitcoin, indicating that this may be the ultimate target for the present market cycle. For BTC to reach this bullish price target, it would require only a modest 6.83% increase from its current value. As of writing, the price of Bitcoin is trading at $99,072, marking a 12.73% increase over the past seven days, according to CoinMarketCap. Featured image created with Dall.E, chart from Tradingview.com
Cboe, the derivatives exchange for digital assets and securities trading, is set to make a big addition to the crypto landscape by launching the first cash-settled index options linked to Bitcoin’s (BTC) spot price movements. Scheduled to debut on December 2, these options will be based on the Cboe Bitcoin ETF Index, which tracks a selection of US-listed spot Bitcoin exchange-traded funds. What This Means For Traders The introduction of these options follows closely on the heels of Nasdaq’s recent listing of spot Bitcoin ETF options. This move allows US investors to utilize derivatives to speculate on or hedge against BTC’s price movements. Related Reading: XRP Price Outlook Brightens: Expert Predicts $2 Target Post-Gensler Era Alex Thorn, head of firmwide research at Galaxy Digital, emphasized that reducing Bitcoin’s volatility could significantly alter investor perceptions. The availability of cash-settled options will provide institutions with effective tools to hedge their positions, potentially increasing overall market liquidity. This influx of options trading could also influence retail trading behavior, especially during bullish market conditions. Notably, the current surge in Bitcoin’s price, which reached an all-time high of $99,300, has been partly attributed to increased trading activity and market optimism. Therefore, introducing cash-settled options could further push Bitcoin over the $100,000 mark, especially given the increased buying pressure seen in recent days. Cboe’s options on the Bitcoin ETF Index will also enable market participants to gain exposure to spot Bitcoin ETFs and, by extension, to Bitcoin itself. The cash-settled nature of these options is said to simplify the process, as positions will be resolved in cash at expiration. Additionally, the options will feature a “European-style exercise,” meaning they can only be exercised on the expiration date, thus minimizing the risks associated with early assignment. Cboe Mini Bitcoin ETF Options In conjunction with the standard-sized index options, Cboe plans to launch Cboe Mini Bitcoin ETF Index options (Ticker: MBTX), valued at one-tenth the notional value of the standard options. Moreover, Cboe will also offer cash-settled FLEX options on both the standard and mini index options. FLEX options enable traders to customize key contract terms such as exercise price, exercise style, and expiration date, providing further flexibility in trading strategies and allowing for larger positions than typically permitted with standard options contracts. Related Reading: Dogecoin Price Set To Skyrocket By Saturday, Warns Crypto Analyst Rob Hocking, Cboe’s Global Head of Product Innovation, highlighted the benefits of cash settlement and the variety of index sizes available, which are expected to attract institutional and retail participants looking to hedge or capitalize on Bitcoin’s price movements without directly holding the asset. The exchange already lists cash-settled Bitcoin and Ether margin futures on Cboe Digital Exchange, with plans to transition these products to the Cboe Futures Exchange in the first half of 2025, pending regulatory approval. Cboe’s BZX Equities Exchange also holds a leading position in the US market for spot crypto ETFs, having captured a majority market share of available Bitcoin and Ethereum ETFs. When writing, the market’s leading cryptocurrency is trading at $99,240. Featured image from DALL-E, chart from TradingView.com
With its strong upside movements to new all-time highs in the last few weeks, Bitcoin is once again dominating the general cryptocurrency landscape, triggering a huge frenzy among community members across most major social media platforms. This surge in social media chatter is a sign of growing interest in the digital asset among investors and […]
The Bitcoin price is well on its way to reaching the $100,000 price mark, with multiple projections saying it could do so by this weekend. Notably, the Bitcoin price reached an intraday high of $99,486 in the past 24 hours, putting it by about only 0.5% from reaching $100,000. As the entire industry continues to await the Bitcoin price break above $100,000, crypto analyst Tony “The Bull” Severino has highlighted an interesting outlook for what to expect from here. Bitcoin Price Mirrors 2017 Pattern Crypto analyst Tony Severino drew parallels of Bitcoin’s recent price movements to its 2017 surge. The Bitcoin price first broke before the round figure mark of $10,000 in the last week of November 2017. Now seven years later, it is exhibiting similar price movements as it looks to break above the next round figure mark of $100,000. Related Reading: Crypto Analyst Predicts 37% Upshoot For Dogecoin Price, Points Out Support Levels Bitcoin’s break above the $10,000 level was a pivotal moment in its price history, as it marked a break above a key psychological threshold. Severino pointed out that after reaching this psychological milestone, the Bitcoin price nearly doubled in value within two weeks. Severino used the outcome of this move to draw parallels with the current performance of the Bitcoin price. This time, however, the stakes are higher, with Bitcoin now about to break above the $100,000 mark. Particularly, this is a figure that carries even greater psychological significance in the outlook of the Bitcoin price than the $10,000 mark. Could Breaching $100,000 Cause Another Excitement? Severino’s analysis centers around the idea that breaking $100,000 could cause another sharp Bitcoin price increase, much like what happened after it crossed $10,000 in 2017. He noted that the Bitcoin price could see gains of up to 100% from its current price, but the pace of the rally may happen extremely fast. Related Reading: Analyst Reveals When The Ethereum Price Will Reach A New ATH, It’s Closer Than You Think This rapid ascent could mark the final leg of this bull run that will create a peak followed by a significant correction, much like how the 2017 bull cycle played out. “The top is near,” Severino cautioned. However, he doesn’t believe Bitcoin’s peak is just two weeks away; he suggested it could be as close to around two months. It is important to note that the Bitcoin ecosystem has changed massively since it first broke above $10,000 in 2017. At that time, the rally was driven largely by retail investors and Bitcoin whales who got in relatively early. The current landscape includes a growing institutional interest in Bitcoin, especially through Spot Bitcoin ETFs. This institutional interest has been key to the steady growth of the Bitcoin price throughout this year, and current market dynamics point to such continued growth. At the time of writing, Bitcoin is trading at $99,032, up by 2% in the past 24 hours. Featured image created with Dall.E, chart from Tradingview.com
BTCUSD, BTCGBP, and BTCEUR are the most traded Bitcoin pairs, each reflecting the interaction between Bitcoin and the specific economic environment of their underlying currencies. Analyzing their respective performances allows us to gain insight into the global Bitcoin market and how local economic conditions influence price action. While this data is limited to a single […]
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Bitcoin has shattered expectations once again, surging past the critical $93,257 level in a display of unstoppable momentum. This breakout has ignited fresh waves of bullish optimism across the crypto market, as traders and investors anticipate greater gains. With market sentiment shifting and key indicators aligning, could this be the spark for Bitcoin’s next major rally? As optimism steadily increases in the market, the goal is to take a closer look at BTC’s impressive breakout above the $93,257 mark, analyze the positive sentiment driving its climb, and assess the potential for continued upward strength in the market. Bullish Indicators: What’s Fueling BTC’s Uptrend? Currently, on the 4-hour chart, BTC is sustaining its position after successfully surpassing the $93,257 mark while trading above the 100-day Simple Moving Average (SMA). By maintaining its position above this level and the 100-day SMA, BTC demonstrates resilience and capability for more price growth, targeting new highs. An analysis of the 4-hour Relative Strength Index (RSI) shows a significant surge, climbing to 70% from its previous low of 56%, indicating strong bullish pressure for BTC. While this increase signals growing positive market sentiment, it raises concerns about the rally’s sustainability since a price correction could occur if profit-taking ensues. Related Reading: Bitcoin Price Forms Bullish Symmetrical Triangle, Crypto Analyst Says Next Stop Is $100,000 Bitcoin is showing strong positive movement after breaking past the $93,257 level, supported by a rise above the 100-day SMA, reflecting sustained bullish strength and potential for continued upward movement. The fact that BTC is consistently above the 100-day SMA suggests a solid trend and that the bulls are eager to push prices higher, possibly leading to an extended growth if pressure continues to build. Finally, the RSI on the daily chart is currently at 81%, well above the key 50% threshold, signaling a strong uptrend for Bitcoin. With the RSI at this level, it suggests that the upside pressure is likely to continue, which means that Bitcoin’s price could keep rising in the near term, as there are no signs of a reversal or decline. What The $93,257 Breakout Signals For Bitcoin The $93,257 breakout opens the door to a more optimistic future outlook for Bitcoin. This key resistance level has been decisively breached, suggesting that BTC may continue its upbeat momentum, potentially targeting higher price levels such as the $100,000 mark and beyond. Related Reading: Bitcoin Price on the Rise: Is There More Fuel for the Rally? However, careful monitoring is essential for any signs of resistance or market corrections that could hinder its ascent. Should such a scenario occur, Bitcoin’s price could begin to drop toward the $93,257 mark. A break below this level might trigger further declines, possibly testing additional support levels in the process. Featured image from Unsplash, chart from Tradingview.com
Bitcoin price is rising steadily above the $95,000 zone. BTC is showing positive signs and might soon hit the $100,000 milestone level. Bitcoin started a fresh increase above the $95,000 zone. The price is trading above $95,000 and the 100 hourly Simple moving average. There is a key bullish trend line forming with support at $95,200 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could continue to rise if it clears the $100,000 resistance zone. Bitcoin Price Sets Another ATH Bitcoin price remained supported above the $92,000 level. BTC formed a base and started a fresh increase above the $95,000 level. It cleared the $96,500 level and traded to a new high at $98,999 before there was a pullback. There was a move below the $98,000 level. However, the price remained stable above the 23.6% Fib retracement level of the upward move from the $91,500 swing low to the $98,990 high. There is also a key bullish trend line forming with support at $95,200 on the hourly chart of the BTC/USD pair. The trend line is close to the 50% Fib retracement level of the upward move from the $91,500 swing low to the $98,990 high. Bitcoin price is now trading above $96,000 and the 100 hourly Simple moving average. On the upside, the price could face resistance near the $98,880 level. The first key resistance is near the $99,000 level. A clear move above the $99,000 resistance might send the price higher. The next key resistance could be $100,000. A close above the $100,000 resistance might initiate more gains. In the stated case, the price could rise and test the $102,000 resistance level. Any more gains might send the price toward the $104,500 resistance level. Downside Correction In BTC? If Bitcoin fails to rise above the $100,000 resistance zone, it could start a downside correction. Immediate support on the downside is near the $98,000 level. The first major support is near the $96,800 level. The next support is now near the $95,500 zone and the trend line. Any more losses might send the price toward the $92,000 support in the near term. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $96,800, followed by $95,500. Major Resistance Levels – $99,000, and $100,000.
Crypto analyst TechDev has predicted that the Bitcoin price could rally to as high as $139,000 in this market cycle. The analyst made this prediction based on previous election cycles, which were also bullish for the flagship crypto. Bitcoin Price To Reach $139,000 Based On Previous Election Cycles In an X post, TechDev predicted that the Bitcoin price could reach $139,000 in this bull run based on previous election cycles. In 2012, the Bitcoin price was $10 on election day, and a year later, BTC witnessed a 22.7x increase as it rallied to $245. In 2016, Bitcoin was $710 on election day and then recorded a 10.12x increase as it rallied to $7,200. Related Reading: $4,000 Solana Price Possible As SOL Breaks Out Of Massive Cup And Handle Pattern Meanwhile, in 2020, the Bitcoin price was at $13,588 on election day. Then, it witnessed a 4.51x increase and rallied to $61,300 a year later. The analyst highlighted a pattern whereby Bitcoin’s price replicates its increase from the previous cycle plus an additional 44.5% surge, which led to Bitcoin’s price a year after the US elections. Based on this, TechDev noted that the BTC price could reach $139,000 if it replicates its 4.51x increase from the previous cycle plus an additional 44.5% surge. Bitcoin was trading at $69,400 on the day of the US presidential elections earlier this month. The US presidential elections have historically been bullish for the BTC price as the flagship crypto always hits new highs after every election cycle. It is also worth mentioning that Bitcoin never dropped below its price on election day. Moreover, this election cycle looks more bullish than others, considering the US now has its first-ever pro-crypto president. The Bitcoin price has reacted positively to Donald Trump’s victory, continuing to pump since Trump defeated Kamala Harris. The flagship crypto is now eyeing the $100,000 milestone, having surged over 37% since the start of this month. What Happens Next When BTC Hits The $100,000 Milestone Crypto analyst Ali Martinez has provided insights into what could happen next after the BTC price hits the $100,000 milestone. In an X post, the analyst said that Bitcoin’s price action looks like it did in December 2020. He added that the Relative Strength Index is also nearly identical to the one in December 2020. Related Reading: Analyst Confirms Dogecoin Price Test Of 0.786 Fibonacci Level, What Happens Next? If Bitcoin is to replicate the price action from that period, Martinez predicts that the Bitcoin price will rally to $108,000 after it hits $100,000 and then drop to $99,000 before it continues its uptrend and further rally to $135,000. Coincidentally, this comes close to TechDev’s target of $139,000 for Bitcoin. At the time of writing, the Bitcoin price is trading at around $97,000, up over 5% in the last 24 hours, according to data from CoinMarketCap. Featured image created with Dall.E, chart from Tradingview.com
The Financial Supervisory Service of South Korea (FSS) has once again reaffirmed its prohibition on Bitcoin spot as well as futures Exchange Traded Funds (ETFs) which has drawn criticism from industry participants and legal practitioners. Related Reading: Trump Enters The Crypto Arena With Bakkt Acquisition – Details This is part of overhauling regulations that have […]
Bitcoin continues its price explosion this Thursday, hitting a new all-time high and breaking the $97,000 barrier during intra-day trading. The crypto asset’s price then spiked 5.7%, reaching $97,811 on Bitstamp, boosting its market cap to $1.93 trillion. Related Reading: XRP On Fire: Over 90% Weekly Growth Catapults Altcoin To Fresh 2-Year High The recent surge in Bitcoin’s value is not just a market trend, but a reflection of the growing optimism surrounding incoming US President Donald Trump’s potential crypto-friendly policies and his pick for the Securities and Exchange Commission (SEC) chief. This optimism has led to a 3% increase in the cumulative cryptocurrency market cap, now standing at $3.37 trillion. The 24-hour trading volume on Thursday saw a 5% increase, reaching $ 190 billion. Bullish Trend Thanks To Trump’s Win The obvious sign of the optimistic trend in the bitcoin market: its price has more than doubled this year. The whole industry has joined the upward surge, contributing an amazing $900 billion to the total crypto market capitalization. Given that Bitcoin is barely $3,000 short of the $100,000 milestone, the sector is bursting with hope about what the next few weeks can bring for the digital asset. According to Edu Patel, CEO of Mudrex, Bitcoin’s price last year was $30,000. Today, the asset’s price surged to more than $97,000, reflecting a growth of over 300%. Patel said several factors are pushing Bitcoin’s price, including Trump’s election and optimism over his pick as chairman of the SEC, and his friendly crypto policies. In addition, he also acknowledged the growing institutional participation in Bitcoin options and ETFs. Is Trump Planning A Special Position To Oversee Crypto? The recent price surge of Bitcoin underscores the growing importance of the asset and cryptocurrency to the economy. The Trump administration has also signaled the possibility of creating a specific office to oversee the administration’s cryptocurrency policies. According to some sources, the president’s team is currently considering this office, and many crypto execs are jockeying for an audience with the president. 1/ MicroStrategy just convinced investors to pay $520,234 per Bitcoin That’s the biggest Bitcoin play I’ve ever seen: pic.twitter.com/yeZfGlcm6j — ELI5 of TLDR (@explain_briefly) November 20, 2024 Institutional Adoption, MicroStrategy’s Bitcoin-First Policy Boost Price Some experts also attribute Bitcoin’s recent run to MicroStrategy’s bold “Bitcoin-first” policy. Michael Saylor of MicroStrategy has doubled down on this approach and purchased additional BTC to boost its portfolio. Other companies have followed suit and are planning to add the asset to their inventories. Related Reading: Solana Market Cap Hits Milestone: $400 Price Target Gains Traction The growing popularity of Bitcoin ETFs also helps, and the market currently benefits from the introduction of options trading. According to multiple sources, more than $4 billion has flowed into Bitcoin ETFs since the November elections. Also, this week, Reuters reports that BlackRock is off to an exciting start with its BTC ETFs with call options. Featured image from Pixabay, chart from TradingView
Pro-crypto US Senator Cynthia Lummis is intensifying her efforts to advance the Bitcoin Strategic Reserve Act, a proposal introduced by President-elect Donald Trump during the National Bitcoin Conference earlier this year. This initiative aims to position the United States at the forefront of BTC adoption, starkly contrasting the regulatory landscape under the Biden administration. Lummis […]
Rumble is formally joining the race to create a crypto-led portfolio. In a Twitter/X post by Chris Pavlovski, Rumble CEO, ran a poll to ask the community whether the company should consider adding Bitcoin to its portfolio. Related Reading: Bitcoin Gains VanEck’s Official Support As Strategic Reserve The social media poll gained traction and attracted […]
Bitcoin‘s recent upside strength has sparked speculations within the crypto community about its move to the $100,000 level and beyond in the current market cycle as many crypto experts predict that the digital asset could witness a rally to the price range shortly. Bitcoin’s Path To $100,000 And Beyond Inevitable As the community anticipates Bitcoin’s […]
Bitcoin (BTC) achieved a new record high of $94,730, continuing a significant uptrend that began on November 5. Analysts are dubbing this rally the “Trump trade,” as the recent political developments surrounding Donald Trump’s victory have instilled renewed confidence among investors in BTC and the broader crypto market. Analyst Forecasts 42% Increase For BTC Despite the impressive surge, analysts believe Bitcoin’s price discovery is far from complete, indicating substantial potential for further growth. Among those sharing this bullish sentiment is analyst Ali Martinez, who draws parallels between Bitcoin’s current price movements and those seen in December 2020, before the notable uptrend that ultimately led to an all-time high of $69,000 in 2021. Related Reading: Dogecoin Forms A ‘Nasty Triple Top’: Analyst Reveals What’s Next Martinez notes that the relative strength index (RSI), a key technical indicator used to gauge momentum, is currently mirroring the patterns observed in late 2020. This similarity suggests that the BTC price may be poised for significant upward movements in the coming months. According to Martinez, if this trend continues, Bitcoin could target the $108,000 mark, followed by a potential correction to around $99,000, before bouncing back to a predicted milestone of $135,000. This forecast represents an increase of over 42% from current levels, although Martinez did not specify a timeline for these movements, indicating they might occur anywhere between now and the first quarter of 2025. Bitcoin To Reach $1 Million By 2029? In even more optimistic projections, market expert Timothy Peterson, who identifies as a network economist, suggests that Bitcoin’s current bullish trend could persist until November 2025, with ambitious targets set for the future. In a recent post on X (formerly Twitter), Peterson predicted that Bitcoin could reach $275,000 per coin by Thanksgiving Day 2025. He bases this projection on Metcalfe’s Law, which posits that the value of a network is proportional to the square of its number of users. This indicates that as more individuals adopt Bitcoin, its value is likely to increase significantly. Related Reading: BlackRock Bitcoin ETF Options Surge: December 20 Call Signals BTC Price Target Of $180,000 Looking further ahead, the economist also asserts that the Bitcoin price could achieve the coveted valuation of $1,000,000 per coin by 2029, representing a staggering 954% increase from current levels. Trading at $94,730 as of this writing, the largest cryptocurrency on the market has seen massive gains in recent weeks, with a 26% and 39% increase in the fourteen and thirty day time frames, respectively. Furthermore, BTC has reached a market cap valuation of $1.8 trillion, making it one of the most valuable assets in the world, currently ranked 7th, just behind companies such as Nvidia, Microsoft, Google and Amazon. But quite far from the leading asset in this matter which is gold with a market cap of $17 trillion. Featured image from DALL-E, chart from TradingView.com
Bitcoin price is rising steadily above the $92,000 zone. BTC is showing positive signs and might continue to rise above the $95,000 level. Bitcoin started a fresh increase above the $92,000 zone. The price is trading above $92,000 and the 100 hourly Simple moving average. There is a connecting bullish trend line forming with support at $93,800 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could continue to rise if it clears the $95,000 resistance zone. Bitcoin Price Sets Another ATH Bitcoin price remained supported above the $91,000 level. BTC formed a base and started a fresh increase above the $92,000 level. It cleared the $94,000 level and traded to a new high at $94,980 before there was a pullback. There was a move below the $94,200 level. The price dipped below the 23.6% Fib retracement level of the upward move from the $91,500 swing low to the $94,980 high. However, the price is stable and consolidating near the $94,200 level. Bitcoin price is now trading above $93,000 and the 100 hourly Simple moving average. There is also a connecting bullish trend line forming with support at $93,800 on the hourly chart of the BTC/USD pair. On the upside, the price could face resistance near the $94,800 level. The first key resistance is near the $95,000 level. A clear move above the $95,000 resistance might send the price higher. The next key resistance could be $98,000. A close above the $98,000 resistance might initiate more gains. In the stated case, the price could rise and test the $100,000 resistance level. Any more gains might send the price toward the $102,000 resistance level. Another Downside Correction In BTC? If Bitcoin fails to rise above the $95,000 resistance zone, it could start a downside correction. Immediate support on the downside is near the $93,700 level. The first major support is near the $92,800 level or the 61.8% Fib retracement level of the upward move from the $91,500 swing low to the $94,980 high. The next support is now near the $91,500 zone. Any more losses might send the price toward the $90,000 support in the near term. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $93,800, followed by $92,800. Major Resistance Levels – $94,800, and $95,000.
The firstborn cryptocurrency has found another ally in the traditional financial sector after a respected global investment company affirmed its support for making Bitcoin a strategic reserve. Related Reading: Trump Enters The Crypto Arena With Bakkt Acquisition – Details The backing of VanEck, a respected name in the investment sector, in Bitcoin shows the coin’s […]
BlackRock, the world’s largest asset manager, has officially launched options trading for its Bitcoin ETF, the iShares Bitcoin Trust (IBIT). This debut comes after the ETF received regulatory approval in January and has since attracted significant inflows. Increased Liquidity And Reduced Volatility On The Horizon According to Bloomberg, the introduction of options trading on the $43 billion iShares Bitcoin Trust is anticipated to reduce volatility while broadening Bitcoin’s investor base. Related Reading: VanEck Gives Official Backing To Donald Trump’s Bitcoin Reserve Strategy Alex Thorn, head of firmwide research at Galaxy Digital, stated during a Bloomberg Television interview that as Bitcoin becomes more widely held, its volatility is likely to decrease. “Options will help dampen volatility, and as volatility comes down, people can take larger position sizes,” he explained. Thorn noted that a decrease in volatility could shift investor sentiment, encouraging them to view Bitcoin as a viable asset for fundamental use cases rather than merely a speculative gamble. The availability of options will also enable institutions to hedge their positions more effectively, increasing liquidity and potentially impacting retail trading during bullish market conditions. Call Options Dominate BlackRock’s Bitcoin ETF On Day 1 Bloomberg ETF analysts Eric Balchunas and James Seyffart reported that on the first day of options trading, the total notional exposure for IBIT reached nearly $1.9 billion, spread across 354,000 contracts. Of these contracts, 289,000 were calls, while 65,000 were puts, resulting in a bullish call to put ratio of 4.4:1. Seyffart claimed that this overwhelming interest in call options contributed to Bitcoin hitting new all-time highs of $94,000 during Tuesday’s trading session for the market’s leading crypto. Balchunas, on the other hand, pointed out that the majority of options contracts are bullish, especially the December 20 call option, which essentially bets that the Bitcoin price will double within a month. This means that based on current prices, investors are expecting BTC to hit a new record high of little over $180,000 by that date. The put/call volume ratio for BlackRock’s Bitcoin ETF was “impressive,” according to Balchunas, who noted that the ratio of 0.17 indicates strong bullish sentiment compared to other ETFs, such as the SPDR S&P 500 ETF (SPY) with a ratio of 1.1. Related Reading: Bitcoin Reaches New High Of $94,000: Blockstream CEO Anticipates $1 Million Ahead Market expert Marty Party highlighted in a social media post that options on the iShares Bitcoin Trust will settle in actual Bitcoin. This means that when an option contract is exercised, settlement will involve the delivery of Bitcoin, giving investors direct exposure to BTC price movements without the need to interact with crypto exchanges. At the time of writing, the market’s leading digital asset is trading at $91,580, up 4% in the weekly time frame after today’s bullish move to its new high. Featured image from DALL-E, chart from TradingView.com
According to recent reports, Howard Lutnick, the CEO of asset management firm Cantor Fitzgerald and a prominent supporter of crypto initiatives, is anticipated to be nominated by President-elect Donald Trump to head the US Department of Commerce (DOC). This nomination comes amidst growing speculation regarding Lutnick’s influence in shaping policies that could significantly impact the […]