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    Bitcoin nears $85,000 with a 4.5% surge as market trends suggest potential rise to $150k

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    Bitcoin’s daily percentage increase was 4.5% on November 11th, and the price is nearing $85,000, according to Cointelegraph Markets Pro and TradingView. Data indicates that short-term capo-bears are driving the price increase, and BitcoinData21 suggests a potential top price of $150k. “Buy” signals and significant buying interest also hint at a continued upward trend. Business insights company, MicroStrategy, has invested over $2 billion in Bitcoin, further bolstering the market. Bitcoin exchange traded funds also saw inflows exceeding $1.5 billion last week, anticipating long-term investment and sustained market growth.

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    Hey guys, Bitcoin’s (BTC) daily ups are at 4.5% on November 11, which was unexpected but it keeps holding up.

    The BTC price is near $85,000. According to data from Cointelegraph Markets Pro and TradingView, BTC price has gone over $84,000 after Wall Street’s opening day. It’s gone up 25% in just last week. BTC doesn’t show signs of slowing down or stopping, as it’s tearing through sell-offs and stays its course of discovery.

    Here’s something interesting from Bitcoindata21, a popular account about Bitcoin trends. They said “short-term capo-bears” are driving the Bitcoin price upwards by adding short positions, which means betting that the price will decrease, basically forcing the market to ‘cancel’ them and raise the price. Bitcoindata21 is referring to those investors who are expecting a big crash in BTC prices – including a trader known as Il Capo of Crypto who expects a staggering drop to as low as $12,000 during this upward BTC trend.

    Bitcoindata21’s tweet keeps the hope alive, stating that their target remains at $150k for the top price, but they added that there’s plenty of time to relax and enjoy the ride.They reminded that it’s an upward market and there’s no need to be in a rush to sell.

    Data from a tool called CoinGlass showed significant buying interest above $81,000 in buying orders. This could push spot prices higher. Some pros also discussed some unusual observations in derivatives markets where funding rates seem pretty low despite BTC reaching all-time highs which they found odd during such breakthroughs.

    Long-time trader Peter Brandt shared another reason to stay bullish on BTC, he’s noticed a “buy” signal over the weekend in Bitcoin’s pattern, he suggested that the road to $200,000 could be open!

    In other exciting news, business intelligence company MicroStrategy announced it’s purchased over $2 billion worth of BTC. It’s a major show of faith in bitcoin from business, especially considering their holdings passed 100% return on investment already on November 10.

    Several other factors contributed to the rise. Exchange traded funds (ETFs) for Bitcoin saw inflows of more than $1.5 billion last week, according to Cameron Winklevoss, co-founder of Gemini, who commented on Twitter that people buy ETFs and don’t sell them, suggesting this is long-term capital investment, meaning Bitcoin is likely to continue its upward trend.

    Just to remind you folks, investments and trading move involves risk, so be sure to do your own research and make decisions wisely.

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