Bitcoin Nears $94,000: New Record on Bitstamp

2 hours ago

Bitcoin has recently reached a new record price level on the Bitstamp exchange, further solidifying its market presence.

New All-Time High

The price of Bitcoin recently hit a new all-time high of $93,874 on the Bitstamp exchange. The leading cryptocurrency's market cap surged to $1.85 trillion according to CoinGecko.

Growth Backed by Technical Analysis

Renowned trader Jesse Colombo noted that Bitcoin is currently in the process of breaking out of its triangle pattern on the four-hour chart. If the breakout holds, the price could quickly reach the $100,000 level.

Bitcoin is now breaking out of its triangle/pennant pattern on the 4-hour intraday chart. Assuming this breakout holds, it should run to $100,000+ fairly quickly.Jesse Colombo

Impact of US ETF Launch

The recent uptick in Bitcoin's price follows the launch of spot ETF options in the US. This was described as a 'paradigm shift' by cryptocurrency investor Mike Novogratz.

Bitcoin continues to surprise markets by reaching new heights and strengthening its position amid growing investor interest.

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