Galaxy

Standard

Optimism

Time

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 Neither the author, Tim Fries, nor this website, The Tokenist, provide financial advice. Please consult our&nbsp;<a href="https://tokenist.com/terms-of-service/" style="text-decoration:underline;color:#3c7b7b" target="_blank" rel="noreferrer noopener" class="deco-link">website policy</a>&nbsp;prior to making financial decisions.
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<p class="has-drop-cap">Bitcoin (<a href="https://tokenist.com/investing/how-to-invest-in-bitcoin/" rel="dofollow" class="deco-link">BTC</a>) continues to be at the forefront of financial discourse as it navigates a complex and rapidly evolving landscape. With its value currently hovering around $95,442, the <a href="https://tokenist.com/investing/best-futures-brokers/" rel="dofollow" class="deco-link">flagship cryptocurrency</a> remains a critical focal point for investors and analysts.</p> 
<p>The current price marks a notable increase of 3.811% from the previous day, demonstrating the significant volatility that investors have come to expect from this digital asset. As it stands, Bitcoin’s market capitalization has soared to over $1.88 trillion, reflecting its influential role in the financial markets.</p> 
<h3 id="bitcoin-price-currently-hovering-at-the-95-000-level">Bitcoin Price Currently Hovering at the $95,000 Level</h3> 
<p>The recent price movements in Bitcoin have sparked discussions among traders and analysts. Optimism is rising as the cryptocurrency approaches its year-high of $99,655.50, with some experts predicting a retest of the $100,000 mark.</p> 
<p>According to <a href="https://www.galaxy.com/insights/research/weekly-top-stories-11-8-24/" target="_blank" aria-label="Galaxy Research (opens in a new tab)" rel="noreferrer noopener nofollow" class="deco-link">Galaxy Research</a>, the bullish trend is fueled by increasing institutional interest and the potential for Bitcoin to become part of nation-state reserves. This sentiment is bolstered by the asset’s impressive performance, with its 50-day average price at $75,666 and 200-day average at $66,050.37, indicating a strong upward trajectory over the past year.</p> 
<p>However, not all market indicators are pointing toward sustained growth. Recent data from Van Straten suggests that short-term Bitcoin holders have moved nearly <a aria-label="$8 billion worth of BTC (opens in a new tab)" href="https://www.coindesk.com/markets/2024/11/27/short-term-bitcoin-holders-have-moved-nearly-8-b-worth-of-btc-to-exchanges-signaling-price-bottom-van-straten" target="_blank" rel="noreferrer noopener nofollow" class="deco-link">$8 billion worth of BTC</a> to exchanges at a loss, a signal that could indicate a potential price bottom.</p> 
<p>Meanwhile, <a href="https://tokenist.com/bitcoin-retreats-from-record-high-as-long-term-holders-take-profits-can-drop-to-80k/" rel="dofollow" class="deco-link">long-term holders have sold</a> approximately 4% of their holdings, adding to the market’s mixed signals. Despite these developments, the overall trading volume remains robust, with over $83 billion changing hands, reflecting the ongoing high interest in Bitcoin trading.</p> 
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<h3 id="meanwhile-in-the-cryptoverse">Meanwhile, in the Cryptoverse…</h3> 
<p>Tether’s decision to <a href="https://tether.io/news/tether-updates-users-on-a-strategic-transition-to-better-support-community-driven-product-support/" target="_blank" aria-label="phase out its euro stablecoin (opens in a new tab)" rel="noreferrer noopener nofollow" class="deco-link">phase out its euro stablecoin</a>, EURT, is making waves in the broader news landscape. As the company shifts focus to new ventures, such as its investment in Quantoz, the move aligns with the broader trend of evolving digital currencies.</p> 
<p>Meanwhile, Deutsche Bank’s <a aria-label="investment in Partior (opens in a new tab)" href="https://www.partior.com/news-and-insights/partior-welcomes-deutsche-bank-as-strategic-investor" target="_blank" rel="noreferrer noopener nofollow" class="deco-link">investment in Partior</a>, a blockchain-based payment network, highlights the growing integration of traditional financial institutions with blockchain technology. This strategic move involves other major players like JPMorgan (NYSE: JPM) and Standard Chartered, emphasizing the collaborative efforts to enhance blockchain-based solutions.</p> 
<p>Amid these developments, Ripple’s continued investment in the crypto space is notable. With plans to allocate <a aria-label="$25 million into a political action committee for the 2026 U.S. congressional races (opens in a new tab)" href="https://www.coindesk.com/policy/2024/11/26/ripple-drops-another-usd25m-into-crypto-pac-to-sway-2026-congressional-races" target="_blank" rel="noreferrer noopener nofollow" class="deco-link">$25 million into a political action committee for the 2026 U.S. congressional races</a>, Ripple aims to influence policy in favor of digital assets. Ripple’s commitment to the Bitwise XRP ETF also shows its strategic focus on expanding its influence within the crypto ecosystem.</p> <iframe src="https://tokenist.substack.com/embed" width="100%" height="320" style="border:1px solid #EEE; background:white;" frameborder="0" scrolling="no"></iframe> 
<p><em>Disclaimer: The author does not hold or have a position in any securities discussed in the article.</em></p> 
<h3 id="br"><br></h3> 
<p>The post <a rel="nofollow" href="https://tokenist.com/btc-report-bitcoins-price-nears-100k-for-the-2nd-time/">BTC Report: Bitcoin’s Price Nears $100k for the 2nd Time</a> appeared first on <a rel="nofollow" href="https://tokenist.com">Tokenist</a>.</p>

BTC Report: Bitcoin’s Price Nears $100k for the 2nd Time

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