Bitcoin

Tether USDt

TrueUSD

USDC

<p>Bitcoin (BTC) is on the cusp of a historic breakthrough, approaching the coveted $100,000 milestone. With fresh all-time highs (ATH) of $98,288 recorded on November 21, driven by unprecedented institutional interest and a liquidity surge, the cryptocurrency market is experiencing a wave of optimism.</p><h3 id="strong-bitcoin-hits-ath-amid-record-stablecoin-inflows-strong"><strong>Bitcoin Hits ATH Amid Record Stablecoin Inflows</strong></h3><p>BTC’s bullish momentum saw its price climb to $98,288, reflecting a 6% increase in the last 24 hours. This surge follows record-breaking stablecoin inflows of $9.7 billion in the past 30 days, signaling renewed investor interest and capital influx into the crypto market.</p><p>According to <a href="https://x.com/LeonWaidmann/status/1859503367321739344" rel="noopener noreferrer nofollow">Leon Waidmann</a>, head of research at The Onchain Foundation, these inflows indicate speculative demand and increasing liquidity, potentially setting the stage for Bitcoin to cross the $100,000 threshold by the end of November.</p><p>“Stablecoin inflows are a critical on-ramp for investors, and this level of liquidity suggests strong buying pressure ahead,” Waidmann explained.</p><h3 id="strong-the-role-of-the-bitcoin-industrial-complex-strong"><strong>The Role of the Bitcoin Industrial Complex</strong></h3><p>Contributing to the rally is the &#34;<a href="https://x.com/EricBalchunas/status/1859349948103524409" rel="noopener noreferrer nofollow">Bitcoin Industrial Complex</a>,&#34; a term describing the interconnected ecosystem of Bitcoin-related equities, ETFs, and institutional investment vehicles. The complex hit an all-time trading volume of $50 billion, driven largely by MicroStrategy (MSTR), which alone accounted for $32 billion.</p><p><a href="https://x.com/EricBalchunas/status/1858981309785485392" rel="noopener noreferrer nofollow">Eric Balchunas</a> of Bloomberg noted, &#34;MSTR becoming the most-traded stock in the U.S. underscores the growing convergence between traditional finance and crypto.&#34;</p><p>Additionally, MicroStrategy’s recent purchase of 51,780 BTC, worth $4.6 billion, brought its holdings to an unprecedented 331,200 BTC, reinforcing its dominance in corporate Bitcoin adoption.</p><h3 id="strong-market-sentiment-turns-bullish-strong"><strong>Market Sentiment Turns Bullish</strong></h3><p>Bitcoin’s upward trajectory is also being fueled by a surge in ETF inflows, with spot Bitcoin ETFs recording cumulative net inflows of $1.85 billion for the week. Meanwhile, the “Bitcoin teleportation effect,” as described by traders, refers to the psychological and financial dynamics pushing BTC past key resistance levels.</p><p>&#34;Once <a href="https://icogemhunters.com/bitcoin-to-125k-how-the-u-s-election-could-send-crypto-markets-soaring/" rel="noopener noreferrer nofollow">Bitcoin breaches $100K</a>, we may witness FOMO-driven price &#39;teleportation,&#39; with new all-time highs coming faster than expected,&#34; noted Capriole Investments founder Charles Edwards.</p><h3 id="strong-challenges-ahead-liquidity-and-resistance-strong"><strong>Challenges Ahead: Liquidity and Resistance</strong></h3><p>Despite the optimism, some analysts urge caution. Material Indicators observed significant sell-side liquidity at the $100,000 level and a thin bid liquidity below $91,000, suggesting potential volatility.</p><p>Trading expert Skew remarked, &#34;Large sellers are likely to defend $100,000 aggressively. However, if buying pressure overwhelms, Bitcoin could break through and sustain its parabolic move.&#34;</p><h3 id="strong-altcoin-season-on-hold-strong"><strong>Altcoin Season on Hold</strong></h3><p>Bitcoin’s dominance, which now exceeds 59%, has kept altcoins in check, delaying the long-anticipated “altseason.” Historical trends suggest altcoins typically rally only after Bitcoin stabilizes or retreats from ATH levels, allowing capital to flow into smaller assets.</p><h3 id="strong-looking-ahead-will-bitcoin-break-100k-strong"><strong>Looking Ahead: Will Bitcoin Break $100K?</strong></h3><p>As BTC inches closer to six figures, market participants are watching critical support levels around $91,000 while eyeing the $102,000 Fibonacci extension as the next major resistance. Analysts agree that Bitcoin’s momentum, bolstered by institutional interest and record stablecoin inflows, could soon catapult it into uncharted territory.</p><p>For now, all eyes are on Bitcoin as it flirts with the $100,000 mark, poised to solidify its place as one of the world’s most influential financial assets.</p><p><strong>Disclaimer:</strong> This article is intended for informational purposes only and should not be construed as legal, tax, investment, financial, or any other form of advice.</p><p><em>Source: </em><a href="https://icogemhunters.com/bitcoin-soars-to-98k-will-it-break-100k-this-week/" rel="noopener noreferrer nofollow">ICO Gem Hunters</a></p>

Bitcoin Soars to $98K – Will It Break $100K This Week?

Table of Contents

ICOGemHunters

Other articles published on Nov 21, 2024

A Do-Over for Solana Regrets: Why Qubetics at $0.023 Is the Best Altcoin to Buy Now

Lead Shiba Inu Dev Now States It Is In Position To Compete With Top Cryptocurrencies

Bitcoin Hits Record High as BlackRock's IBIT Sets New Trading Volume Milestone

Top Chinese Crypto Advocate Expelled from Party for Corruption

A Singaporean man’s alleged US$230 million crypto theft

Justin Sun Drops $6.2M on Controversial Banana Art, Calls It a "Cultural Phenomenon"

Join our free newsletter for daily crypto updates!