BTC Price Targets $100,000 As AUM Spot Bitcoin ETF Passes $100 Billion (Market Watch)

Another day, another all-time high for bitcoin, which came just two thousand short of hitting the coveted $100,000 price.

At the same time, many altcoins have gone red, including ADA, SUI, and numerous meme coins, unlike other bitcoin-connected alts.

Will $100,000 fall today?

It’s been an amazing few weeks since Donald Trump won the US presidential election on November 5th. Since then, the major cryptocurrency broke its March 2024 all-time high of $73,740 and hasn’t really looked back.

It soared above $80,000 the following week and did the same to the $90,000 resistance. Although he faced some bears ready for a fight at the time, he beat the odds and started a new rally at the start of the current work week.

It initially took advantage of $94,000 to record another peak, but continued to rise in the following days and topped $95,000 yesterday. In the early hours of the Asian trading session, it soared to nearly $98,000, just 2% away from $100,000.

This came amid growing inflows into spot BTC ETFs, which now have more than $100 billion in assets under management, according to SoSoValue.

With a market capitalization of well over $1.9 trillion, bitcoin is now the seventh largest asset in the world. Their dominance in the crypto market has also increased to 58% in CG.

Bitcoin/Price/Chart 21.11.2024. Source: TradingView BCH, BSV on the Rise

Most recent highs turned red today. ADA, SUI, DOT, PEPE, AVAX and others are down more than 5%. PEPE is actually leading the wave of meme coin backlash that has also hit the likes of BONK, WIF, SHIB, DOGE, PNUT and others.

In contrast, SOL and XRP have posted smaller gains, but BCH has taken the main stage for the largest-cap highs, having surged 17% above $500. BSV has also seen an impressive 10.3% rise to $76.

The total crypto market capitalization hit its own record of over $3.33 trillion today, rising by $80 billion in one day.

Cryptocurrency Market Overview. Source: QuantifyCrypto SPECIAL OFFER (Sponsored) Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive an exclusive welcome offer of $600 to Binance (full details).

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