Mit dem neuen Allzeithoch von über 81.000 US-Dollar hat die Marktkapitalisierung von Bitcoin die Marke von 1,6 Billionen US-Dollar überschritten.
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Over 40,000 BTC leave exchanges as Bitcoin hits $82k
- Bitcoin rose to a new all-time high above $82 on November 11, 2024
- Over 40,000 Bitcoin valued at nearly $3.28 billion have left exchanges in the past week.
The price of Bitcoin (BTC) has climbed to a new record high above $82,000 as the momentum that pushed cryptocurrencies higher continues to dictate sentiment.
On Monday, BTC reached highs of $82,329 across major exchanges to put the flagship digital asset up more than 20% over the past week.
The gains have also impacted altcoins, with notable performances for Ethereum that has crossed above $3,100 and Solana that’s eyeing a new year-to-date high. Cardano, BNB and meme coins Dogecoin and Shiba Inu are also trading higher.
Over 40,000 BTC leave exchanges
According to crypto analyst Ali Martinez, Bitcoin’s spike to the new ATH comes as the amount of BC leaving exchanges surges.
In the past week, Ali noted via X, bullish BTC holders have withdrawn over 40,000 bitcoins from exchanges. This represents nearly $3.3 billion worth of Bitcoin exiting from exchanges. Exchange balances for Bitcoin have plummeted in the last seven days.
The bullish sentiment across the market could be driving this trend. Donald Trump’s US election victory and interest rate cuts are two major catalysts. Meanwhile, institutional demand amid spike in spot ETF inflows has also helped BTC past the $82k mark.
What next for Bitcoin price?
BTC price forecasts suggest a surge to $100k is possible before the end of the year. With this outlook in place, a huge number of traders taking a short term bearish view after recent gains have lost significant amounts of money.
Per Coinglass data, the past 24 hours have seen the crypto market a staggering $270 million in liquidations.
However, longs expecting an even sharper spike for Bitcoin have recorded a $361 million liquidations. In total, more than 208,800 traders have been liquidated in the past 24 hours, the total liquidations comes in at $632.57 million, with $124 million in Bitcoin shorts.
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Crypto Fear and Greed Index erreicht 7-Monatshoch: Bitcoin (BTC) steigt über 82.000 US-Dollar
Am 10. November stieg der Bitcoin um 6,15 % und erreichte mit über 82.000 US-Dollar ein neues Allzeithoch.
Bitcoin breaks $82,000 boosted by Trump’s re-election win
- Bitcoin’s upward trajectory follows Donald Trump’s presidential win last week
- Over the past 30 days, Bitcoin has increased in value by more than 30%
- Institutional interest is rising with Bitcoin ETFs, noted by BlackRock’s IBIT ETF reaching $1.12 billion in daily inflows
Bitcoin has hit another record, reaching over $82,000 on Monday, boosted by Donald Trump’s re-election to the White House last week.
According to data from CoinMarketCap, Bitcoin’s value has risen more than 19% in the past seven days and 30% over the past 30 days. Taking to X, Anthony Pompliano, host of the Pomp podcast, said:
“The first pro-Bitcoin President was elected in US history and Bitcoin hit $80,000 within a week. The market is preparing itself.”
The first pro-bitcoin President was elected in US history and bitcoin hit $80,000 within a week.
The market is preparing itself.
— Anthony Pompliano 🌪 (@APompliano) November 10, 2024
While Trump’s win has helped push crypto prices up, many don’t think it’s the sole reason. In response, Sleep Money Maker said: “Think bigger than one week or one event. We’re watching decades of regulatory friction starting to dissolve. When barriers fall, capital flows – that’s just market physics in action.”
Speaking to CoinJournal last week, James Toledano, COO at Unity, a self-custody crypto wallet, said it was “disingenuous” to say the US election directly caused the price increase.
In the long-term, it won’t be the election that moves the crypto market, but “broader macroeconomic events, technological advancements, shifting market sentiment, and factors outside of the next President’s control,” Toldeano explained.
Institutional appetite for Bitcoin is rising
Institutional interest in Bitcoin has also reached new levels, noted by BlackRock’s iShares Bitcoin Trust (IBIT) exchange-traded fund (ETF) bringing in a record $1.12 billion in daily inflows. This followed BlackRock setting a new record in October when its total assets reached $30 billion in 293 days.
Speaking of the recent price rally, Toledano, said:
“There is clearly heightened confidence in Bitcoin as a key investment vehicle and institutional investors are not only recognizing Bitcoin’s resilience as an asset class but are increasingly allocating capital in response to favorable macroeconomic conditions, including recent rate cuts and political shifts.”
Other coins that are rallying include Ethereum, trading over $3,100, Solana, at $216, and Dogecoin, up nearly 158% in the past month at $0.2877.
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