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Price Trend
According to data from Zhongcai Network, as of November 25, 2024, at 08:23, the price of Bitcoin is $97,671.00, an increase of $133.00 from the previous day, with an increase of 0.14%. The highest price reached $98,381.00, and the lowest price was $95,611.00.
After Bitcoin rose to $99,728.34 on November 23, setting a historical high, it continued to retrace, with an intraday drop of over 2.3%.
Market Dynamics
Trading Volume: In the past 24 hours, the total market trading volume was $270.6 billion, an increase of over $40 billion from the previous day.
Market Attention: As the leader of digital currencies, Bitcoin's price fluctuations have always attracted significant market attention, affecting global investors. The recent rapid rise in Bitcoin prices and the ongoing challenge of the $100,000 mark have drawn the attention of a large number of investors, and discussions and expectations about its subsequent trends are very lively.
Influencing Factors
Regulatory Policy: U.S. President-elect Trump has nominated hedge fund manager Scott Bensinger as U.S. Secretary of the Treasury. The market believes that his actions on tariffs and efforts to control the budget deficit may influence the regulation of Bitcoin and other financial assets. Additionally, discussions between Trump's team and the digital asset industry about establishing a new cryptocurrency policy position in the White House have led the market to expect a more lenient regulatory policy in the future, thereby affecting Bitcoin prices.
Macroeconomic: The global economic growth trend is stabilizing, inflation pressure is easing, and central banks in Europe and the U.S. are initiating interest rate cuts, bringing more liquidity to the market, which has somewhat driven up Bitcoin prices. However, at the same time, the dollar has risen due to Trump's trade policies and stronger economic data, putting some pressure on safe-haven assets like Bitcoin. Nevertheless, as the market solidifies the dollar's rise, Bitcoin and other digital currencies may face new opportunities.
Market Sentiment: Since Trump won the presidential election, the cryptocurrency market has continued to heat up. Investors' optimism about a shift in U.S. cryptocurrency regulatory policy has boosted Bitcoin investor interest. However, during the rapid price increase and volatility, some investors have sold off in panic, leading to a price retracement for Bitcoin.
Technological Development: The continuous advancement of technologies such as blockchain and artificial intelligence has provided broader prospects for the development of Bitcoin and other digital currencies. In the long term, it is beneficial for enhancing the market's recognition of their value, but in the short term, the direct impact on Bitcoin prices is relatively small.
Technical Analysis
From the daily chart, yesterday's candlestick closed with a large bullish candle, with the market rising from an opening price of $18,269 to touch a high of $19,400, an increase of about 6%. However, constrained by the upper Bollinger Band, the market has launched an attack downward towards the five-day moving average today, falling to a low of $18,851. In the later period, the market will still test the support strength. In the four-hour level chart, the Bollinger Bands are opening, and the market is currently at $19,137, with the five-day moving average trending upwards. The coin price is engaged in fierce competition near it. In the attached chart, the MACD fast and slow lines are operating above the zero axis, showing a golden cross state, while the RSI and Stoch maintain a steady posture, indicating that short-term market trends are leaning towards volatility.
In the long run, with the improvement of regulatory policies, the promotion of technological innovations, and the growth of market demand, Bitcoin and other digital currencies will usher in broader development prospects, but investors also need to pay attention to the volatility and risks of the digital currency market.#BTC走勢分析
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