Since Bitcoin broke past its March high of $73,679, Bitcoiners have pulled $20.4 billion in realized profits, but Glassnode believes “further gains” may be on the horizon.
Bitcoin Price news
Bitcoin hit $90,000, but holding it is proving to be a challenge. Cointelegraph explains why.
Bitcoin has notched another major milestone, topping $90,000 for the first time following the election of Donald Trump as the next US president.
The last time the Crypto Fear & Greed Index had a score of 80 was on April 9, just before Bitcoin saw an over 18% correction over the following three weeks.
In comparison, Bitcoin’s second-best daily gain occurred in August 2021, when the price rose over $7,576 in 24 hours, from $38,871 to $46,448.
The US banking crisis is what catalyzed the 2023 bull run, according to BitMEX’s Arthur Hayes.
Veteran trader Peter Brandt says Bitcoin is following a similar pattern from its past, which could lead to a $125,000 BTC price by New Year’s Eve.
Bitcoin price is now just 17% away from surpassing the $100,000 mark, which could occur before the end of 2024 due to Trump’s presidential victory, analysts told Cointelegraph.
Bitcoin picked up momentum and soared above $84,500, pulling several altcoins higher.
Bitcoin bullishness is boiling over as market participants appear to dismiss the odds of a major BTC price capitulation.