bullish

United

Bitcoin

<p>Bitcoin continues to fascinate, surprise, defy expectations, and test the psychological limits of the market. Just a few cables away from the symbolic threshold of $100,000, the leading crypto records a record weekly close, consolidating its position in a context of increased volatility. This figure, more than ever at the center of discussions, raises questions: is it merely a milestone or a true market catalyst?</p>
<h2 id="h-the-figures-of-a-historic-week">The figures of a historic week</h2>
<p>After a volatility marked by a brief but spectacular drop to $95,800 on Sunday, November 24, 2024, Bitcoin closed the week at a record high of $98,000. This movement triggered massive liquidations totaling $500 million in a market characterized by low liquidity. The threshold of $98,500 is a key point to reclaim in order to consolidate the bullish trend. This observation further informs about the importance of liquidity movements in the evolution of <a href="https://www.cointribune.com/en/crypto-markets/bitcoin-btc-en/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin’s price</a>.</p>
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<p>In parallel, data shows that futures contracts for Bitcoin from CME Group indicate a concentration of liquidity just below $100,000. Some specialists, such as Aksel Kibar, Accredited Market Technician and CEO of Tech Charts LLC, minimize the importance of this threshold, calling it a “mere collection of numbers on a screen.” He points to higher technical levels, such as $140,000. These elements suggest that, despite the attention given to the threshold of $100,000, more ambitious targets could already be structuring investors’ strategies.</p>
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<h2 id="record-profits-and-implications-for-the-market">Record profits and implications for the market</h2>
<p>Long-term holders, often called “diamond hands”, have been particularly active this week. Thus, data from CryptoQuant reveals realized profits reaching a historic peak of $443 million in a single day. Moreover, “unrealized profit levels remain at 57 %, reflecting a strong appetite for taking profits,” <a href="https://cointelegraph.com/news/who-cares-about-100k-5-things-bitcoin-this-week" target="_blank" rel="noopener noreferrer nofollow">indicates</a> Maartunn, an analyst at CryptoQuant. Furthermore, short-term holders also seem to have benefited from this dynamics, which could signal a slowdown in the surge.</p>
<p>This frenzy of sales is tempered by the massive influx of capital into <a href="https://www.cointribune.com/a-quoi-consiste-letf-crypto/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin ETFs</a> in the United States, with net inflows of $7 billion in November. Indeed, institutional movements, which have just recorded a record week, provide a significant counterweight to selling pressures. Glassnode emphasizes that “ETFs have the potential to neutralize the effects of profit-taking, thus creating a solid foundation for a recovery above $100,000.”</p>
<p><em>As Bitcoin approaches a key psychological milestone, the market oscillates between optimism and caution. Institutional flows and record profits realized by long-term holders demonstrate a transforming market. While a correction could strengthen the market structure, breaking through the $100,000 mark, accompanied by a possible pursuit towards $140,000, would mark a historic milestone. In a context of <a href="https://www.cointribune.com/volatilite-et-bitcoin-btc/" target="_blank" rel="noopener noreferrer nofollow">increased volatility</a> and macroeconomic uncertainty, the coming days could well redefine the dynamics of this already extraordinary market.</em></p>

$100K Milestone : Catalyst Or Illusion For Bitcoin ?

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