After a pause on Tuesday, Bitcoin reached a new all-time high (ATH) on Wednesday, putting it on the final stretch towards $100,000. According to data from the CoinMarketCap portal , the leading cryptocurrency reached $93,374 per unit at the time of writing this note.
After an intense Monday, some analysts were already talking about a significant correction that would cause a temporary drop in price. However, the coin has once again proven that it remains a rebellious asset against forecasts. During the course of this day, it is likely that new ATHs will be marked, just as on Monday.
The coin’s price momentum today is likely related to strong demand for Bitcoin ETF shares. In particular, BlackRock’s IBIT fund is experiencing a large inflow of capital so far this week. During Monday and Tuesday combined, IBIT received almost $1.5 billion in inflows.
If everything continues to go as it is now, ETFs could show another day above $1 billion in inflows. This implies that BTC's bullish trend could extend throughout the week. For now, this new Bitcoin ATH generates enthusiasm among investors that the currency is heading unchecked towards $100,000.
Will Bitcoin ATH be set at $100K this week?
As mentioned above, at the current rate of Bitcoin, it is highly likely that the price of the coin will conquer the $100K mark soon. It is important to keep in mind that this barrier could prove to be a tough resistance for the price. This means that the profit-taking point for investors could be just below the $100,000 mark.
It is worth considering that BTC investors have a huge speculative makeup. That is why at the slightest sign of a recovery, a large part of them start to stampede. That is basically what corrections in the crypto sector consist of.
Either way, the largest digital currency is showing an impressive performance, reaching +52% in three months. This is a formidable rise, considering its enormous market capitalization of $1.81 trillion at the time of writing.
Donald Trump's victory in the US elections on November 5th became the starting point for this rally. Although the currency could continue to rise in 2025, strong corrections that could lead to price crashes are not ruled out. It is vitally important for investors to stay up to date with all the facts of this volatile market.
