Indonesia - The crypto market is solidly strengthening today (12/11/2024) even Bitcoin has again printed an all-time high (ATH).
Referring to CoinMarketCap on Tuesday (12/11/2024) at 06:15 WIB, the crypto market is solidly strengthening. $BTC rose 11% to US $ 88,234.11 and is still in the positive zone of 31.59% on a weekly basis.
$ETH appreciated 5.31% in the last 24 hours and rose 39.81% in a week.
$SOL strengthened 5.25% daily and jumped 40.16% in a week.
Likewise, DOGE Coin has climbed 20.82% in the last 24 hours and has soared 109.93% in the last seven days.
Crypto Performance (11/12/2024)
CoinDesk Market Index (CMI) which is an index to measure the weighted performance of the market capitalization of the digital asset market rose 8.48% to 3,233.27 Open interest appreciated 8.82% to US$98.94 billion.
Meanwhile, the fear & greed index reported by coinmarketcap.com showed a figure of 79 which indicates that the market is in the greed phase with the current economic and crypto industry conditions.
Quoted from coingape.com, the price of Bitcoin (BTC) hit an all-time high of US$88,000. This is a significant movement for the cryptocurrency. With this movement, BTC has entered the "price discovery" phase which is still quite uncharted in its future trajectory.
According to analysts, if Bitcoin continues to hold the demand zone and avoids a breakdown of the double-top pattern, then a strong rally is likely.
The largest cryptocurrency has also reached a market capitalization of $1.7 trillion, adding $1 trillion in the past year. This makes BTC larger than all but the six largest public companies in the world.
This record achievement has occurred in the days following Donald Trump's election victory and the US central bank's 25 basis point interest rate cut.Even on Monday alone, Bitcoin hit its all-time high three times.
