Bitcoin surge: Prospects of reaching $100,000

user avatar

by Giorgi Kostiuk

2 years ago

Bitcoin has exceeded the $93,000 mark for the first time, yet some traders remain skeptical of the rally's longevity.

Bitcoin hits new record

From November 11 to 13, Bitcoin surged by 16%, surpassing the $93,000 mark for the first time. Despite this record high, some traders believe the bullish momentum could weaken as sellers, including certain Bitcoin miners, start to take profits. Julio Moreno, head of research at CryptoQuant, noted that some Bitcoin miners started taking profits, though this activity remained within normal levels.

Factors in US dollar strength

The strengthening of the US dollar against other major currencies such as the euro, yen, and Swiss franc has concerned some investors. However, this inverse relationship is no longer as crucial as before. The launch of a new $54 billion spot Bitcoin ETF further established Bitcoin as a distinct store of value.

Derivatives premium and forecasts

The Bitcoin derivatives premium shows moderate enthusiasm, considered a healthy sign amid Bitcoin's record highs. The current 13% premium indicates whale and arbitrage desk excitement, while options data suggests a healthy, neutral market.

Given the current macroeconomic conditions and a crypto-friendly US administration, the path for further Bitcoin price gains looks promising. Potential catalysts, such as Senator Lummis's proposal to increase US Treasury Bitcoin reserves, could easily propel Bitcoin's price above $100,000.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Richard Heart Detained in Istanbul Linked to Finnish Tax Investigation

Richard Heart, founder of HEX and PulseChain, has been detained by Turkish authorities in connection with a Finnish tax investigation.

user avatarJacob Williams

TD Cowen Increases Strive's Share Price Target Amid Bitcoin Holdings Surge

TD Cowen analysts raised Strive's share price target from 44 to 56 due to significant expansion of Bitcoin holdings to 35,595 BTC, noted in a research update on October 16.

user avatarZainab Kamara

Tether Invests in AI Infrastructure Startup AIsa

Tether has invested in AI infrastructure startup AIsa, contributing to its total funding of over $9 million to support autonomous AI applications.

user avatarSon Min-ho

Taiwan Restricts Access to Coinbase and Kalshi Ahead of Elections

Taiwanese authorities have restricted access to Coinbase and Kalshi websites due to concerns over election betting.

user avatarTando Nkube

Strategy Proposes Daily Dividends for STRC Preferred Stock

Strategy has conditionally declared daily dividends for its STRC preferred stock for November 2026, pending shareholder approval.

user avatarKofi Adjeman

Ripple Prime Expands Institutional Trading with New Derivatives Access

Ripple Prime introduces access to perpetual derivatives referencing traditional assets for eligible institutional clients.

user avatarNguyen Van Long

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.