Bitcoin Breaks Through 92,000 Dollars, The 100,000 Target Is Approaching

The Bitcoin continues its spectacular rise and sets a new historical peak at 92,559 dollars. This spectacular performance comes as the first crypto already shows a 117% increase since the beginning of the year.

Bitcoin surpasses 92,000 dollars

The Bitcoin has crossed a new historical milestone this Wednesday, November 13, 2024, at 15:02 UTC, reaching 92,559 $ on major exchange platforms. This spectacular growth represents an increase of 6.91% over the last 24 hours, bringing the performance since the beginning of the year to an impressive 117%.

The total market capitalization of cryptocurrencies has now surpassed 3.02 trillion dollars, with Bitcoin dominance standing at 59.6%.

This new bullish phase is part of the continuation of the rally triggered by Donald Trump’s victory in the US presidential elections. Institutional investors, emboldened by this politically favorable outlook for the crypto sector, have massively increased their exposure to Bitcoin.

The influx of capital is particularly visible through trading volumes that have reached record levels on major platforms, reflecting sustained interest from both retail and institutional investors.

A market that consolidates its positions

After a brief consolidation around 90,000 $, Bitcoin demonstrates its resilience by establishing new peaks. Technical analysis reveals the formation of a solid upward trend line with crucial support at 85,200 $.

Technical indicators remain largely positive, particularly with the price maintaining above the simple moving average over 100 hours. This favorable technical setup suggests the possibility of an extension of the move towards 100,000 $, a major psychological level now within reach.

Notably, during this ascent of Bitcoin, Ethereum, the second cryptocurrency by market capitalization, shows a more modest performance with a price of 3,290 $ and an increase of only 1.25% over 24 hours, although it is up 25% on the week.

In summary, the continuation of this rally will largely depend on the market’s ability to maintain current support levels, particularly the 85,000 $ zone, which is considered crucial by analysts for the continuation of the bullish movement.