bullish

Bitcoin

<p>Bitcoin continues its historic trajectory this week by setting six new consecutive records, driven by an unprecedented wave of purchases. The queen of crypto has crossed the threshold of $89,000, now surpassing the market capitalization of silver and the GDP of most countries, including Spain.</p> 
<h2 id="h-bitcoin-franchit-un-seuil-historique-avec-une-pression-d-achat-record">Bitcoin crosses a historic threshold with record buying pressure</h2> 
<p>Traders are closely watching the <a href="https://www.cointribune.com/en/bitcoin-soars-and-reaches-89000-analysis-of-november-12-2024/" target="_blank" rel="noreferrer noopener">explosive growth of Bitcoin</a>, which has appreciated by over 32% in just one week. Data from CryptoQuant reveals a massive accumulation since late September, primarily fueled by institutional investors.</p>
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<p>According to Axel Adler, an analyst at CryptoQuant, the net taker volume, a key indicator measuring the aggressiveness of purchases in spot markets, <a href="https://bitcoinist.com/bitcoin-bulls-build-buying-pressure-metrics-show-steady-growth-in-net-taker-volume/" target="_blank" rel="noreferrer noopener">shows</a> continuous growth, indicating renewed confidence among major market players.</p> 
<p>The strength of this bullish movement is evident in the notable absence of significant correction, despite the magnitude of the recorded gains. Buy orders continue to flood in on major exchange platforms, suggesting that the current momentum could persist.</p> 
<p>The appeal of Bitcoin now extends well beyond the <a href="https://www.cointribune.com/en/bitcoin-surges-tesla-rakes-in-colossal-profit/" target="_blank" rel="noreferrer noopener">crypto sphere</a>, attracting the attention of traditional fund managers who are reevaluating their exposure to digital assets in a context of accelerated financial innovation.</p> 
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<h2 id="h-perspectives-techniques-et-zones-de-surveillance">Technical outlook and watch zones</h2> 
<p>The <a href="https://www.cointribune.com/en/crypto-markets/bitcoin-btc-en/" target="_blank" rel="noreferrer noopener">Bitcoin is currently trading around $87,800</a>, after briefly testing the psychological resistance of $90,000. Technical data suggests a healthy consolidation after this dizzying ascent, with initial supports located around recent pivot points at $85,000 and $82,000.</p> 
<p>Analysis of on-chain transaction flows confirms the strength of the movement: long-term addresses continue to accumulate, while selling pressure remains contained despite historical price levels.</p> 
<p>This technical setup, coupled with exceptionally optimistic market sentiment, suggests a potential continuation of the rally after a stabilization phase.</p> 
<p>The upcoming sessions will be crucial in confirming Bitcoin’s ability to transform these historic peaks into a new support level. Increased volatility around these levels indicates the psychological importance of the $90,000 zone, whose crossing could trigger a <a href="https://www.cointribune.com/en/crypto-institutional-inflows-hit-record-levels-in-2024/" target="_blank" rel="noreferrer noopener">new wave of institutional purchases</a>.</p>

The Buying Pressure On Bitcoin Reaches Unprecedented Levels

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Cointribune EN

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