The post Bitcoin’s new all-time high is $81,859 after bullish weekend appeared on BitcoinEthereumNews.com.

Bitcoin reached a new all-time high of $81,846 on Monday, extending its rally following Donald Trump’s victory in the US presidential election. Bitcoin has surged over 17% in the past week, fueled by optimism around Trump’s pro-crypto stance and strong inflows into Bitcoin ETFs. After 9 months of trading within a fixed price range between $49,600 and $73,700, Bitcoin finally hit a new all-time high on Nov. 6. Since it has entered price discovery, marking new peaks on the 30-minute timeframe 11 times in five days. Bitcoin all-time high (Source: TradingView) A new channel predicted between $73,700 and $77,000 was blown away over the weekend as Bitcoin broke $80,000 with ease. A lack of sell pressure or open interest from shorts at these levels has allowed Bitcoin to explore higher prices. The price surge pushed Bitcoin past its previous record high of $77,200 set just days earlier. Investors are increasingly bullish, with some analysts predicting Bitcoin could reach $100,000 or higher in the coming months. VanEck CEO Jan van Eck suggested Bitcoin’s value could eventually reach half that of all outstanding gold, implying a price of around $300,000. The rally also coincides with record inflows into US Bitcoin ETFs, with over $1 billion invested in a single day last week. This institutional demand, coupled with retail investor enthusiasm, is driving Bitcoin’s price momentum. Other cryptocurrencies are also benefiting, with Ethereum approaching $3,200, Solana breaking $210, and smaller altcoins posting significant gains. The total crypto market capitalization has surged to $2.76 trillion, reflecting broad-based interest across the digital asset space. Source: https://cryptoslate.com/insights/bitcoins-new-all-time-high-is-81859-after-bullish-weekend/

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Filed under: News - @ November 11, 2024 9:22 am