Catenaa, Thursday, November 28, 2024-Bitcoin’s price movement has been notable in the past week, marked by significant volatility and a strong push toward the $100,000 milestone.
On November 22, Bitcoin opened at approximately $98,627 and quickly approached the $99,600 mark by November 23, driven by robust trading volumes and heightened investor interest.
However, the cryptocurrency faced a brief setback, dropping nearly 4% before recovering to around $98,434.
Analysts attribute part of this bullish momentum to the so-called “Trump factor,” as speculation surrounding political developments in the US has historically influenced market sentiment.
The Fear and Greed Index currently reflects “Extreme Greed,” indicating strong bullish sentiment among investors.
Despite a recent liquidation event that affected over $470 million in crypto positions, Bitcoin remains resilient.
As of November 29, it settled around $95,662 after hitting highs near $100,000 earlier in the week.
The overall cryptocurrency market capitalization has surged to approximately $3.09 trillion, with Bitcoin dominating at nearly 57.88%.
Investors are closely watching for potential catalysts that could propel Bitcoin past the six-figure threshold as it enters December, traditionally a volatile month for cryptocurrencies.
