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Bitcoin's Rise Beyond $100K Driven by High Demand on Coinbase

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by A1

20 hours ago

Bitcoin has crossed the significant $100,000 threshold, attracting investor attention and reaffirming its importance in the crypto market.

Bitcoin Reaches Record Mark

The cryptocurrency recorded a 1.65% gain, bringing its price to $100,894.81 with a market capitalization of $1.99 trillion. This increase highlights the growing global interest in Bitcoin.

Analysis of Coinbase Premium Index

The Coinbase Premium Index reflects significant demand from US investors. Previously, it influenced Bitcoin's rise from $69,000 to $108,000 in November 2024.

3 days ago, Coinbase Premium Index crossed SMA14 for the first time in 26 days — Bitcoin is now up 4% to $102K. In November 2024, a similar move saw Bitcoin rally from $69K to $108K. U.S. buyers could be back in action.

Prospects for Further Growth

Rising trading volume and market capitalization signal increased interest in Bitcoin. Despite short-term fluctuations, further price rises may follow the Coinbase Premium Index.

Bitcoin's record levels emphasize its significance as an investment, especially amidst strong demand from US investors.

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