Donald Trump

FOMO

Bitcoin

<p>Since Bitcoin's (BTC) price crossed the former resistance level around $73k last week, the flagship coin has continued to <a href="https://coinpedia.org/price-analysis/bitcoins-meteoric-rise-how-the-election-boosted-btc-to-89500/" target="_blank" rel="noreferrer noopener">print a new all-time high</a> (ATH) daily. Bitcoin price surged over 8 percent in the past 24 hours to reach a new ATH of about $89,560, before retracing to $87,930 on Tuesday, November 12, during the early Asian session.&nbsp;</p>   
<p>Most of the top-tier altcoins - led by Dogecoin (DOGE) - gained bullish momentum, thus the total crypto market cap rallied above $3 trillion for the first time since 2021.</p>   
<h2 class="wp-block-heading" id="h-what-s-fueling-bitcoin-and-altcoin-prices">What’s Fueling Bitcoin and Altcoin Prices?</h2>   
<h3 class="wp-block-heading" id="h-rising-impact-of-short-squeeze-nbsp"><strong>Rising Impact of Short Squeeze&nbsp;</strong></h3>   
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<p>The recent surge is primarily driven by over $1.2 billion in forced liquidations in the crypto market over the past two days, mainly affecting short traders. These liquidations have pushed many traders to adopt a bullish stance, adding momentum to the market in what’s known as an institutional-led short squeeze.</p>   
<h3 class="wp-block-heading" id="h-institutional-fomo"><strong>Institutional FOMO</strong></h3>   
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<p>Demand from institutional investors has also played a major role in <a href="https://coinpedia.org/price-analysis/will-crypto-keep-going-up-what-next-for-bitcoin-and-altcoins/" target="_blank" rel="noreferrer noopener">Bitcoin’s rally</a>. As Bitcoin’s market cap surpassed $1.73 trillion—the highest it’s been in over three years—some investors in gold and silver ETFs have begun shifting their holdings to BTC. </p>   
<p>On Monday alone, <a href="https://coinpedia.org/news/bitcoin-etf-news-bearish-sentiment-leads-to-record-580-million-in-outflows/" target="_blank" rel="noreferrer noopener">U.S. spot Bitcoin ETFs</a> saw a net cash inflow of over $1 billion, with BlackRock’s IBIT ETF receiving $760 million in new investments.</p>   
<p>Adding further to Bitcoin’s bullish momentum, MicroStrategy Inc. announced on Monday that it had purchased an additional 27,000 BTC, valued at over $2 billion.</p>   [post_titles_links postid="378541"]   
<h3 class="wp-block-heading" id="h-regulatory-clarity"><strong>Regulatory Clarity</strong></h3>   
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<p>Bitcoin price has registered bullish sentiment since the <a href="https://coinpedia.org/news/2024-us-elections-result-donald-trump-officially-elected-president/" target="_blank" rel="noreferrer noopener">victory of Donald Trump</a> as the next U.S. president. According to Wyoming <a href="https://coinpedia.org/news/could-a-bitcoin-reserve-change-americas-economic-future/" target="_blank" rel="noreferrer noopener">senator Cynthia Lummis</a>, the next US administration will pass the Bitcoin Act to see the country adopt Bitcoin as a hedge against debt crisis within the first 100 days of office.</p>   
<p>Meanwhile, Trump has nominated billionaire hedge fund investor Scott Bessent for the position of Treasury Secretary, which is considered very pro-crypto, particularly pro-bitcoin.</p>   
<div class="schema-faq wp-block-yoast-faq-block">
 <div class="schema-faq-section" id="faq-question-1731388266460">
  <strong class="schema-faq-question">How High Will Bitcoin Go?</strong> 
  <p class="schema-faq-answer">At the time of writing, 1 Bitcoin value was $80,945.21</p> 
 </div> 
 <div class="schema-faq-section" id="faq-question-1731389080439">
  <strong class="schema-faq-question">Will Crypto Keep Going Up?</strong> 
  <p class="schema-faq-answer">Crypto could continue rising due to strong institutional demand and favorable regulatory signals, but high volatility means prices may fluctuate significantly in the short term.</p> 
 </div> 
 <div class="schema-faq-section" id="faq-question-1731389224814">
  <strong class="schema-faq-question">Should I Buy Bitcoin Now?</strong> 
  <p class="schema-faq-answer">Bitcoin is at an all-time high, so it may be wise to wait for a minor correction before considering a purchase. Patience could offer a better entry point.</p> 
 </div> 
</div>   
<p><strong>The crypto rally shows no signs of slowing down. Buckle up for an exciting ride.</strong></p>

Why Is Crypto Going Up Today?

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