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Another day, another all-time high for bitcoin, which came just two grand away from tapping the coveted $100,000 price tag.
At the same time, many altcoins have turned red, including ADA ($0.67), SUI ($2.70), and numerous meme coins, unlike other alts with a connection to bitcoin.
Will $100K Fall Today?
It has been nothing short of a mind-blowing few weeks ever since Donald Trump won the US presidential elections on November 5. Since then, the primary cryptocurrency broke its March 2024 all-time high of $73,740 and didn’t really look back.
It skyrocketed past $80,000 in the following week and did the same to the $90,000 resistance. Although it faced some bears prepared for a fight at that point, it overcame the odds and started a new rally at the start of the current business week.
At first, it tapped $94,000 to register another peak but kept climbing in the following days and broke above $95,000 yesterday. During the early hours of the Asian trading session, it skyrocketed to nearly $98,000, thus coming just 2% away from $100,000.
This came amid the growing inflows toward the spot BTC ($111,139.00) ETFs, which now have over $100 billion in Assets Under Management, according to SoSoValue.
With a market cap of well above $1.9 trillion, bitcoin is now the seventh-largest asset in the world. Its dominance in the crypto market has risen as well to 58% on CG.
Bitcoin/Price/Chart 21.11.2024. Source: TradingViewBCH ($525.77), BSV ($22.30) on the Rise
Most of the recent high-flying alts have turned red today. ADA, SUI, DOT ($3.16), PEPE ($0.00), AVAX ($22.06), and others have all dropped by over 5%. PEPE actually leads the meme coin-retracement wave that has also hit the likes of BONK ($0.00), WIF ($0.55), SHIB ($0.00), DOGE ($0.20), PNUT, and others.
In contrast, SOL ($195.03) and XRP ($2.42) have charted minor gains, but BCH has taken the main stage from the larger-cap alts, having surged by 17% to well above $500. BSV has also charted an impressive surge of 10.3% to $76.
The total crypto market cap registered a record of its own at over $3.330 trillion today, rising by $80 billion in a day.
Cryptocurrency Market Overview. Source: QuantifyCryptoThe post BTC Price Aims at $100K as Spot Bitcoin ETF AUM Exceeded $100B (Market Watch) appeared first on CryptoPotato.
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