Bitcoin

<p>Bitcoin is just a few thousand dollars away from hitting the crucial $100k mark, a milestone that investors and analysts have been eagerly awaiting. Recently, the price touched $98k, rising by more than five percent. The market is buzzing with excitement as the bulls are ready for a potential explosive rally that could push Bitcoin to even greater heights, surpassing anything we've seen before.</p>   
<h2 class="wp-block-heading" id="h-altcoin-season-on-the-horizon"><strong>Altcoin Season on the Horizon?</strong></h2>   
<p>Additionally, there's buzz about <a href="https://coinpedia.org/news/are-spot-etfs-for-solana-xrp-and-hbar-a-sign-of-an-upcoming-altcoin-season/" target="_blank" rel="noreferrer noopener">an incoming altcoin season</a>. While we're not there yet, some analysts believe altcoins could perform well in 2025, especially if <a href="https://coinpedia.org/price-analysis/bitcoin-dominance-spikes-as-100k-looms-moon-or-pullback" target="_blank" rel="noreferrer noopener">Bitcoin's dominance</a> slows down. This could signal a shift in market trends where altcoins start gaining traction before a potential bear market hits later on.</p>   
<h2 class="wp-block-heading" id="h-whale-and-shark-activity-driving-bitcoin-s-rise"><strong>Whale and Shark Activity Driving Bitcoin's Rise</strong></h2>   
<p>So why is Bitcoin's price going up? According to Santiment, one key factor to watch is the behavior of whale and shark wallets, which hold at least 10 BTC. Over the past month, these large wallets have added a total of 56,397 BTC, worth about $5.4 billion. Interestingly, while the number of whale and shark wallets has decreased by 1,256 (a drop of 0.82%), the amount of Bitcoin held by these wallets has increased significantly. This consolidation of Bitcoin in the hands of large holders is an important trend to monitor.&nbsp;</p>   
<p>Meanwhile, on Coinbase, there's been a noticeable spike in Bitcoin buying, with key investor sentiment driving the price higher. Crypto expert Ki Young Ju shared a chart showing that the Coinbase premium has gone positive again, signaling strong demand for Bitcoin.&nbsp;</p>   
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
   https://twitter.com/ki_young_ju/status/1859154286980268302 
 </div>
</figure>   
<h3 class="wp-block-heading" id="h-is-100k-imminent"><strong>Is $100k Imminent?</strong></h3>   
<p>It remains to be seen whether Bitcoin will hit the $100k mark today or if it will leave investors waiting once again. This is important because predictions of Bitcoin reaching $100k have been circulating for a while, and now that it's trading close to $98k, it feels like it's almost imminent. With experts offering various <a href="http://It remains to be seen whether Bitcoin will hit the $100k mark today or if it will leave investors waiting once again. This is important because predictions of Bitcoin reaching $100k have been circulating for a while, and now that it's trading close to $98k, it feels like it's almost imminent. With experts offering various bitcoin price predictions, it's clear that many believe the $100k milestone is within reach." target="_blank" rel="noreferrer noopener">Bitcoin price predictions</a>, it's clear that many believe the $100k milestone is within reach.</p>   
<h2 class="wp-block-heading" id="h-faqs">FAQs</h2>   
<div class="schema-faq wp-block-yoast-faq-block">
 <div class="schema-faq-section" id="faq-question-1732191025001">
  <strong class="schema-faq-question">If Bitcoin hits 100k what will Ethereum be</strong> 
  <p class="schema-faq-answer">If Bitcoin hits $100k, Ethereum could surge, potentially reaching $7k-$8k as altcoins gain momentum with increased market confidence.</p> 
 </div> 
 <div class="schema-faq-section" id="faq-question-1732191201847">
  <strong class="schema-faq-question">When was Bitcoin 1 dollar?</strong> 
  <p class="schema-faq-answer">Bitcoin first hit $1 in February 2011, marking a key milestone in its journey from a niche asset to a global cryptocurrency.</p> 
 </div> 
 <div class="schema-faq-section" id="faq-question-1732191253246">
  <strong class="schema-faq-question">How many Bitcoins are left to buy?</strong> 
  <p class="schema-faq-answer">There are approximately 2.3 million Bitcoins left to mine, as the total supply is capped at 21 million, with around 18.7 million already in circulation.</p> 
 </div> 
</div>

Why is Bitcoin Price Going Up Today?

Table of Contents

CoinPedia News

Other articles published on Nov 21, 2024

Ethereum Dips Against Bitcoin: Who’s Capitalizing on This Market Shift?

Sui Network Halted for Over 2 Hours

World Usability Day Africa ’24 Empowers Product Professionals to Lead Change in Africa and Beyond

Bitcoin 'teleportation' due as traders bet on BTC price passing $100K

Whale Profits Strategy: Top 3 Coins And CATZILLA Could Deliver Huge Returns Next Year

Will BTC Surge Beyond $100,000? Price Analysis for Bitcoin 2025

Join our free newsletter for daily crypto updates!