🚀 BTC price is approaching the $100,000 mark, and the community is grateful for the push from short sellers and non-believers!
Shortly after the news of Trump's election, the cryptocurrency market was like a chicken blood, and the prices of all major assets soared to new highs.
Bitcoin is undoubtedly the protagonist of this carnival. The price has soared from less than $70,000 before the election to the current $99,800, an increase of more than 40% since Trump's election!
The main reason behind this amazing rise is the US spot Bitcoin ETF. These funds were launched in January this year, and funds have shown a positive inflow trend. In the first week after the election, they attracted nearly $5 billion.
Although there was a net outflow of $770 million on November 14 and 15, investors' overall enthusiasm has not diminished. In the past five days, there has been crazy buying, with a net inflow of about $3.38 billion in a single week. BlackRock IBIT alone had a net inflow of $2.05 billion in a single week.
Santiment pointed out that community members often post information about the market's reverse transactions on social media and other channels, and the price performance is often contrary to expectations, which in turn has contributed to the further rise in Bitcoin prices.
The analysis said that given that the trend of the cryptocurrency market is contrary to most people's expectations, thanks to all the bears and non-believers, the market trend of Bitcoin has maintained this historic trend.
However, this coveted milestone, that is, the price of Bitcoin reaches $100,000, is the fuse since the "Laser Eye Movement" in 2021. At that time, it was so close, but so far away.
In the early hours of this morning, BTC was only 0.5% away from reaching the $100,000 mark, but since $99,800 million, Bitcoin has retreated by about $1,300. This also raises a question of general concern in the market: when will the final sprint come, or will it come?
The latest data shows that the FOMO (fear of fear) of market participants remains at a low level, which is usually seen as a signal that the market may rise further. However, the fear and greed index is clearly biased towards greed, which may mean that a market adjustment is coming.
For now, all investors and observers can do is wait and see if this Bitcoin frenzy continues.
