*š¼ Bitcoin Hits a New All-Time High Above $93,000, Then Retraces to $92,000*
Bitcoin has indeed hit a new all-time high above $93,000, specifically $93,826.60, before retracing to around $92,000. This surge is attributed to the renewed investor optimism following Donald Trump's re-election as U.S. President, which is expected to bring a pro-crypto regulatory environment. The global cryptocurrency market has also surpassed $3 trillion, with Bitcoin's market cap reaching almost $1.8 trillion, comprising 60% of the total crypto market.
š Altcoins Lag Behind
Many top-100 assets have seen price drops. Leading the decliners are:
- HBAR: -20%
- KAS: -11%
- ENA: -8%
š Meanwhile, some coins are on the rise:
- BONK: +9%
- CRO: +7%
- LEO: +6%
*Fear & Greed Index* is at 83 ā signaling extreme greed. Recently, it reached a peak of 90.
Key Factors Contributing to the Surge:
- Donald Trump's Re-election: Expected to bring a pro-crypto regulatory environment
- Institutional Appetite: Growing interest from major financial players, with 57% of global institutional investors planning to increase their crypto allocations
- Spot Bitcoin ETFs: Launch of spot Bitcoin ETFs has contributed to the surge
Market Predictions:
- Some analysts predict Bitcoin could hit $100,000 in the coming months
- Galaxy Digital CEO Mike Novogratz forecasts a potential surge to $500,000āif Bitcoin gains traction as a national reserve asset in the U.S.
Would you like to know more about Bitcoin's current market trends or the potential impact of regulatory changes on the cryptocurrency market?
