Bitcoin has broken the $79,000 level for the first time since Donald Trump was re-elected as US president. Bitcoin, which reached $79,141 on Coinbase on November 10, is currently trading at $79,658.

Analysts warn against making hasty decisions. Tuur Demeester emphasized patience, saying, “HODLing will do the trick.”

James Check from Glassnode noted that despite Bitcoin’s new highs, it is still far from the 200-Day Moving Average.

This rally was driven by a spot demand shock and large demand rather than leveraged positions.