Bitcoin

Ethereum

Optimism

Arbitrum

Bitcoin has repeatedly broken new highs this week, officially surpassing $98,000 at 7 PM yesterday. As of 3:15 AM today, spot prices reached a peak of $98,988, and perpetual contracts have even exceeded $99,000, indicating a strong momentum towards the $100,000 target this week.At the time of writing, there has been a slight pullback, with the price currently at $98,598, representing a 4.69% increase in the past 24 hours.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/97504babb40b47d494433f2eb1af87ef.png" /><h2 id="header-0">BCA Research: Bitcoin Still Has Room to Double</h2>Regarding the strong performance of Bitcoin, a report released this month by the BCA Research team led by analyst Dhaval Joshi stated, &#34;Although Bitcoin has risen on the back of the election, its 260-day fractal dimension indicator has not yet approached the 1.2 level, which signals a market reversal.Therefore, while we should expect a short-term pullback in Bitcoin, the structural uptrend of Bitcoin remains intact, with an ultimate target of over $200,000.&#34;However, as shown in the following figure, although the current level has not reached the 1.2 reversal point, it is also approaching 1.4, suggesting that BCA&#39;s expectations may be overly optimistic.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/8b0f80477f384272a63cc093d85c01c8.jpg" />The Bitop market analysis team thinks that Bitcoin&#39;s price is being continuously driven by a series of positive factors, including improved market liquidity, increased institutional adoption, a shift from a regulatory headwind to a tailwind, and the potential expansion of fiscal deficit policies during Trump&#39;s term.<h2 id="header-1">Ethereum Rebounds, L2s Surge</h2>As Bitcoin is about to hit $100,000, the long-dormant Ethereum also experienced a strong rally last night, rising 7.5% within three hours. Earlier, it reached a high of $3,386. At the time of writing, it is currently at $3,335, representing a 9.68% increase in the past 24 hours.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/7590138d71e043f8858115b796a85863.png" />The Layer 2 altcoins have also been stimulated by this rally, with OP experiencing the highest increase of over 27% in the past 24 hours, and Arbitrum also seeing a 17% increase.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/88e3b6e395da4d1f8002b942f04a6dd3.jpg" />

[Bitop Review] Bitcoin Hits Near $100K! Analysts See Room for Another Double, Ethereum Rebounds, Boosting Layer2

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