Bitcoin has made headlines by soaring 16% between Nov. 11 and Nov. 13, breaking past the $93,000 mark for the first time. While some traders are cautious, fearing a slowdown as sellers, including Bitcoin miners, might cash in, the rally seems strong. Key indicators like derivatives data and the US dollar outlook suggest continued momentum.

The launch of a $54 billion Bitcoin ETF has bolstered Bitcoin's status as a store of value. Despite a strong US dollar, Bitcoin's future looks bright, especially with a crypto-friendly US administration and potential legislative support for increasing Treasury Bitcoin reserves.