Euphoria

Bitcoin

strong bull

James

Bitcoin hit an all-time high of $81,800 in early trading in Asia on Monday, Nov. 11, according to CoinGecko. 
The move has culminated in a weekly gain of 18%, with the asset adding a whopping $14,000 since its Nov. 5 price of $67,500. 
Most of those gains have come in the wake of Donald Trump’s landslide <a href="https://cryptopotato.com/major-victory-for-donald-trump-bitcoin-explodes-to-ath-altcoin-season-heats-up-this-weeks-market-update/" data-wpel-link="internal">victory</a> in the US presidential election last week. 
<h2 id="investors-and-analysts-euphoric">Investors and Analysts Euphoric</h2> 
BTC even gained $5,000 over the weekend when traditional markets are closed, and crypto trading is usually quiet.&nbsp;The latest pump means that Bitcoin has surged by 93% since the beginning of 2024 and a whopping 400% since its bear market low of $16,000 in November 2022. 
On-chain analyst James Check said markets have now entered the “euphoria zone” as Bitcoin is in new price discovery. “The 8 months of chopsolidation allowed investors to acclimate to higher prices, forming a firm foundation for launch,” he added. 
<blockquote class="twitter-tweet"> 
 <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank">#Bitcoin</a> has entered the Euphoria zone, by convincingly breaking through the previous cycles ATH 
 However, it is doing so with a relatively cooled down MVRV Ratio 
 The 8-months of chopsolidation allowed investors to acclimate to higher prices, forming a firm foundation for launch <a href="https://t.co/Z2Rqc6tBgi" data-wpel-link="external" target="_blank">pic.twitter.com/Z2Rqc6tBgi</a> 
 — _Checkmate <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/26a1.png" alt="⚡" class="wp-smiley" style="height: 1em; max-height: 1em;"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/2622.png" alt="☢" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@_Checkmatey_) <a href="https://twitter.com/_Checkmatey_/status/1855716739335753961?ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank">November 10, 2024</a>
</blockquote> 
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Blockworks co-founder Jason Yanowitz <a href="https://x.com/JasonYanowitz/status/1855713946247844216" target="_blank" rel="noopener" data-wpel-link="external">said</a>, “Euphoria officially began on November 5th with the presidential election,” adding that this was a “beautiful time.” 
<blockquote>
 “Everyone is making money, but the grifters haven’t rushed in yet. Take moments to really enjoy this time, as it will be brief.”
</blockquote> 
Meanwhile, Chairman and CEO at Marathon Holdings, Fred Thiel, <a href="https://x.com/fgthiel/status/1855607493038100488" target="_blank" rel="noopener" data-wpel-link="external">lamented</a> the German government’s decision to sell BTC when it was around $53,000. He added that his company is hodling over 27,000 BTC, which is growing every day. “The BTC we purchased this year has appreciated very nicely thank you,” he said. 
<blockquote class="twitter-tweet"> 
 With bitcoin peaking around $80K new ATH today, I wonder how the officials in Germany feel about having sold their nearly 50,000 bitcoin at around $53K per BTC in July … hmmmm…that about a $1.3B difference. 
 Glad <a href="https://twitter.com/search?q=%24MARA&amp;src=ctag&amp;ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank">$MARA</a> is HODLing over 27,000 BTC and growing every day!! The… 
 — Fred Thiel (@fgthiel) <a href="https://twitter.com/fgthiel/status/1855607493038100488?ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank">November 10, 2024</a>
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“A strong bull market driven by spot and fundamentals can run on high leverage while seeing regular levered flushes,” said economist Alex Krüger on Nov. 11, who <a href="https://x.com/krugermacro/status/1855728955489423726" target="_blank" rel="noopener" data-wpel-link="external">observed</a> “absurd levels” of relentless Bitcoin spot buying from Coinbase. 
<h2 id="total-cap-hits-cycle-high">Total Cap Hits Cycle High</h2> 
Bitcoin’s continued surge has pushed total crypto market capitalization to $2.92 trillion, its highest level since the November 2021 bull market peak when it topped $3 trillion briefly. 
While many of the altcoins have surged, Bitcoin’s market share still remains dominant at over 59%, <a href="https://www.tradingview.com/symbols/BTC.D/" target="_blank" rel="noopener" data-wpel-link="external">according</a> to Tradingview. This means that altseason has yet to start despite <a href="https://cryptopotato.com/double-digit-price-surges-from-these-altcoins-as-bitcoin-btc-eyes-80k-weekend-watch/" data-wpel-link="internal">double-digit gains</a> for many altcoins over the weekend. 
Today’s top performers are dominated by memecoins, including <a href="https://cryptopotato.com/ripple-xrp-jumps-by-10-but-dogecoin-doge-flips-it/" data-wpel-link="internal">DOGE</a>, WIF, FLOKI, and <a href="https://cryptopotato.com/why-has-shiba-inus-shib-price-skyrocketed-by-25-today/" data-wpel-link="internal">SHIB</a>, all cranking more than 20% over the past 24 hours. 
The post <a href="https://cryptopotato.com/bitcoin-in-euphoria-zone-hits-ath-of-81800-after-14000-weekly-gain/" rel="nofollow">Bitcoin in ‘Euphoria Zone’ Hits ATH of $81,800 After $14,000 Weekly Gain</a> appeared first on <a href="https://cryptopotato.com/" rel="nofollow">CryptoPotato</a>.

Bitcoin in ‘Euphoria Zone’ Hits ATH of $81,800 After $14,000 Weekly Gain

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