Bitcoin Price Makes Another Run at $100K as U.S. Traders Return After Thanksgiving
Bitcoin’s price premium on Coinbase rebounded after flipping negative during the recent pullback, suggesting that American traders may be driving the rally.
Bitcoin’s price premium on Coinbase rebounded after flipping negative during the recent pullback, suggesting that American traders may be driving the rally.
Bitcoin is currently up over 36% for November, which has only been beaten by three other months since October 2021.
XRP surged 14% in the past 24 hours, outpacing bitcoin and other majors, extending a month-long run that has seen its price triple.
“Given that ETH has lagged behind BTC and SOL in the current rally, its recent strength supports the case for it to retest its all-time high,” QCP Capital said.
Cross-border payments and FX-equivalent transactions are key areas of growth, the report said.
Yen breached the key 150 level against dollars early Friday, a move that has previously catalyzed the unwinding of carry trades.
“We are about 55% to 65% of the way” to the end of the bull market, ARK Invest Research Associate David Puell told CoinDesk.
The analytics firm said bitcoin could rally to at least $147,000 before topping if it repeats the pattern of previous cycles.
The bitcoin hashrate is still soaring as mining difficulty looks to increase for a fifth consecutive time.
There’s something about major psychological price levels, like bitcoin’s (BTC) $100,000 mark. As prices near these thresholds, anything tied to the asset gets an extra spark of energy. The Nasdaq-listed ProShares UltraShort Bitcoin ETF (SBIT) is a …