{"id":128468,"date":"2024-11-21T16:33:56","date_gmt":"2024-11-21T09:33:56","guid":{"rendered":"https:\/\/hotvideos24.online\/?p=128468"},"modified":"2024-11-21T16:33:56","modified_gmt":"2024-11-21T09:33:56","slug":"bitcoin-price-blasts-past-97000-as-futures-hint-at-more-room-to-run","status":"publish","type":"post","link":"https:\/\/hotvideos24.online\/?p=128468","title":{"rendered":"Bitcoin Price Blasts Past $97,000 as Futures Hint at More Room to Run"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<\/p>\n<div style=\"position:relative;overflow:visible;font-size:1.2em;line-height:1.58\">\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">Bitcoin continues to set new records this year as traders begin eyeing a six-figure price for the world\u2019s largest crypto\u2014and according to analysis of the asset\u2019s derivatives market, it&#8217;s yet to overheat.<\/span><\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">The asset climbed to well beyond $97,000 late Wednesday evening, blasting through its previous highs above <\/span><a href=\"https:\/\/decrypt.co\/292513\/bitcoin-price-95000-all-time-high\" target=\"_blank\" class=\"sc-adb616fe-0 bJsyml\" rel=\"noopener\"><span style=\"font-weight:400\">$95,000<\/span><\/a><span style=\"font-weight:400\"> in less than an hour, CoinGecko data shows.<\/span><\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">Its seesawing price has triggered a $100 million cascade of liquidations over the last 24 hours, with 80% of those coming from short sellers or those betting the price would head lower, according to data from CoinGlass.<\/span><\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">Volatility has returned significantly this year, thanks partly to multiple spot exchange-traded fund listings in the U.S. in January and the commencement of <\/span><a href=\"https:\/\/decrypt.co\/292480\/grayscale-to-launch-bitcoin-etf-options-following-blackrocks-record-debut\" target=\"_blank\" class=\"sc-adb616fe-0 bJsyml\" rel=\"noopener\"><span style=\"font-weight:400\">options trading<\/span><\/a><span style=\"font-weight:400\"> on those products this week.<\/span><\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">A Republican victory during this year\u2019s U.S. presidential election has also spurred hopes for favorable industry regulation and a relaxation of oversight from Wall Street\u2019s top cop\u2014the Securities and Exchange Commission\u2014with an expected change of the guard.<\/span><\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">Dubbed the \u201cTrump Trade,\u201d crypto and equities traders are scrambling to scoop up assets ahead of the President-elect\u2019s inauguration on January 20, which has helped drive sentiment across major markets.<\/span><\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">Earlier this month, the Nasdaq climbed to its highest peak above 21,180 points, while the S&amp;P 500 topped out over 6,000 for the first time.<\/span><\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">That\u2019s been driven by post-election optimism, Federal Reserve rate cuts, and strong corporate earnings, particularly in the tech sector. Advancements in AI and supportive economic conditions further boosted investor sentiment, propelling the indices to new peaks.<\/span><\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">Bitcoin is on track to exceed analyst expectations of a December price above $100,000, with Bernstein Research forecasting the asset could double to <\/span><a href=\"https:\/\/decrypt.co\/287901\/bitcoin-200k-next-year-conservative-bet-bernstein\" target=\"_blank\" class=\"sc-adb616fe-0 bJsyml\" rel=\"noopener\"><span style=\"font-weight:400\">$200,000<\/span><\/a><span style=\"font-weight:400\"> by the end of 2025.<\/span><\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">\u201cIf you just looked at the scale and speed of the market, the knee-jerk thinking would be that investors are in a state of euphoria,\u201d Pav Hundal, lead analyst at Australian crypto exchange Swyftx, told <\/span><i><span style=\"font-weight:400\">Decrypt<\/span><\/i><span style=\"font-weight:400\">.<\/span><\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">\u201cThere\u2019s zero sign of any overheating in the futures market, he added. \u201cIt all looks very rational, very deliberate.\u201d<\/span><\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">The analyst pointed to Bitcoin\u2019s funding rate for perpetuals contracts, which \u201cright now are sitting at around 10%.\u201d<\/span><\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">\u201cThat\u2019s not close to overheated, and certainly nothing like the 107% annualized interest rate we saw on Bitcoin longs in March,\u201d he said. \u201cWe should get a pretty good idea in the next few hours on whether this\u00a0 is the final push to $100,000.\u201d<\/span><\/p>\n<div class=\"my-4 border-b border-decryptGridline\">\n<div class=\"text-start p-8 md:py-12 md:px-12 max-w-prose relative\"><span class=\"border-t-4 border-l-4 w-4 h-4 md:border-t-[6px] md:border-l-[6px] md:w-6 md:h-6 border-decryptPurple dark:border-decryptNeon gg-dark:border-cc-pink-2 absolute top-4 left-4 md:top-6 md:left-6\"\/><span class=\"border-t-4 border-l-4 w-4 h-4 md:border-t-[6px] md:border-l-[6px] md:w-6 md:h-6 border-decryptPurple dark:border-decryptNeon gg-dark:border-cc-pink-2 absolute rotate-180 bottom-4 right-4 md:bottom-6 md:right-6\"\/><\/p>\n<h3 class=\"font-akzidenz-grotesk font-bold text-xl md:text-3xl md:text-center gg-dark:text-white\">Daily Debrief<!-- --> Newsletter<\/h3>\n<p>Start every day with the top news stories right now, plus original features, a podcast, videos and more.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<br \/><div data-type=\"_mgwidget\" data-widget-id=\"1660802\">\r\n<\/div>\r\n<script>(function(w,q){w[q]=w[q]||[];w[q].push([\"_mgc.load\"])})(window,\"_mgq\");\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/decrypt.co\/292746\/bitcoin-price-blasts-past-97000-as-futures-hint-at-more-room-to-run\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin continues to set new records this year as traders begin eyeing a six-figure price for the world\u2019s largest crypto\u2014and according to analysis of the asset\u2019s derivatives market, it&#8217;s yet &hellip; 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