Flow

Bitcoin

Worldcoin

Resistance

Gains

<ul class="wp-block-list">
 <li>Bitcoin reaches $96,859, edging closer to the $100K milestone.</li>
 <li>Dormant Whale transfers 16.2 BTC; another wallet moves 1,900 BTC worth $180M.</li>
</ul>
Bitcoin (BTC) surged to $96,859 today and is currently trading at $96,171, reflecting a 0.55% daily gain. With a market cap of $1.90 trillion, the <a href="https://x.com/Bitcoin" target="_blank" rel="noopener noreferrer nofollow">cryptocurrency</a> showcases resilience, despite reduced block rewards and low transaction fees. The 24-hour trading volume spiked to $47.13 billion, accounting for 2.5% of the market cap.
Miners are nearing a $40 billion market cap as mining difficulty rises for the fifth consecutive time. The strong recovery from $90,775 highlights robust investor confidence.&nbsp;
A major whale address, <a href="https://x.com/whale_alert/status/1862388230219255981" target="_blank" rel="noopener noreferrer nofollow">dormant</a> for 11 years, suddenly transferred 16.2 BTC valued at $1.56 million to an anonymous address at 06:47 UTC on Nov. 29. Such movements by long-dormant wallets often spark speculation about market dynamics and potential price action.
In a separate transaction, a massive 1,900 BTC, worth nearly $180 million, was transferred <a href="https://x.com/whale_alert/status/1862062016262730119" target="_blank" rel="noopener noreferrer nofollow">between</a> two unknown wallets. These whale activities highlight ongoing interest and large-scale involvement in the Bitcoin market. Despite these significant movements, investor sentiment remains subdued. Analysts suggest that Bitcoin still has room to grow before hitting a market top.
<h3 class="wp-block-heading" id="h-options-expiry-sets-the-stage-for-milestones">Options Expiry Sets the Stage for Milestones</h3>
BTC’s largest 2024 options expiry occurs today, worth $13.6 billion. Bulls dominate, with 19% more call options than puts, focusing on surpassing $100,000. Gains for bulls escalate significantly if BTC closes above $98,000, potentially adding $4.58 billion.
If Bitcoin holds between $94,000 and $98,000, call options would gain $3.55 billion. A slip to $90,000-$94,000 would still provide a $2.6 billion gain for <a href="https://thenewscrypto.com/can-ethereum-name-service-ens-bulls-set-their-sights-on-40/" target="_blank" rel="noopener noreferrer nofollow">bulls</a>. These scenarios underline a high-stakes trading environment, driving price volatility.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="472" src="https://thenewscrypto.com/wp-content/uploads/2024/11/BTCUSDT_2024-11-29_12-23-00-1024x472.png" alt="" class="wp-image-116058" srcset="https://thenewscrypto.com/wp-content/uploads/2024/11/BTCUSDT_2024-11-29_12-23-00-1024x472.png 1024w, https://thenewscrypto.com/wp-content/uploads/2024/11/BTCUSDT_2024-11-29_12-23-00-300x138.png 300w, https://thenewscrypto.com/wp-content/uploads/2024/11/BTCUSDT_2024-11-29_12-23-00-768x354.png 768w, https://thenewscrypto.com/wp-content/uploads/2024/11/BTCUSDT_2024-11-29_12-23-00-1536x708.png 1536w, https://thenewscrypto.com/wp-content/uploads/2024/11/BTCUSDT_2024-11-29_12-23-00.png 1814w" sizes="auto, (max-width: 1024px) 100vw, 1024px">
</figure>
The RSI currently stands at 67.02, below the average of 73.35. This indicates bullish momentum but suggests potential consolidation. The Chaikin Money Flow (CMF) at 0.16 signals steady capital inflow into Bitcoin. Moving averages show an upward trajectory, with no bearish crossovers observed.
A critical support zone is $93,580, where 667,000 addresses purchased approximately 504,000 BTC. Staying above this level is essential to prevent<a href="https://thenewscrypto.com/is-long-term-holders-selling-behind-bitcoins-92k-price-drop/" target="_blank" rel="noopener noreferrer nofollow"> selling</a> pressure from these holders.&nbsp;On the upside, the next resistance zone is between $98,000 and $102,000. Breaking this level could push Bitcoin to $100,000 or beyond. Holding above $90,000 will remain vital for maintaining bullish momentum.
Highlighted Crypto News Today <a href="https://thenewscrypto.com/can-worldcoin-wld-break-through-resistance-following-a-14-surge/" target="_blank" rel="noopener noreferrer nofollow">Can Worldcoin (WLD) Break Through Resistance Following a 14% Surge?</a>

Will Bitcoin’s $13.6B Options Expiry Drive It to Six Figures?

Table of Contents

TheNewsCrypto

Other articles published on Nov 29, 2024

Decentralized AI is key for self-sovereignty — Onicai executives

Top Analyst predicts 17,000x rally for this ETH-based altcoin before Dogecoin reaches $1

Ripple Labs’ Procedural Win Clouds SEC Case as XRP Hits $1.56

Russia’s New Crypto Tax Laws: A Detailed Breakdown for Investors

Binance Labs invests in Astherus to enhance real-field opportunities for DeFi users

Large-Scale Ethereum Transfers to Kraken by Jeffrey Wilcke

Join our free newsletter for daily crypto updates!