🚀 Bitcoin Surpasses $88,000, Market Cap Hits $1.75 Trillion
Bitcoin has broken through the $88,000 resistance, trading between $88,200 and $88,300, with its market capitalization reaching $1.75 trillion. This surge represents a 25% increase since Donald Trump's presidential election victory.
#BTC build-up a new consolidation range with resistance at $92,550 and support at $89,800. We have minor news in this week, and expect a breakout either sides. #Disclamer -Not -Not Buy and sale
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BTC.D is trading within a rising wedge pattern on the weekly timeframe, currently facing rejection at the wedge's upper trendline a structure often considered bearish.
This indicates a potential decline in BTC.D in the near term, with a breakdown of the wedge likely confirming bearish momentum. If BTC.D trends lower while Bitcoin maintains stability or a bullish trajectory, it could pave the way for an altcoin bull run. #Disclamer -Not Buy and sale
Bitcoin has historically reacted strongly to US presidential elections: 2016 (Trump win):
Before: Price up 35%, Investment up 20% After: Price up 125%, Investment up 56%
2020 (Biden win):
Before: Price up 35%, Investment up 17% After: Price up 307%, Investment up 196%
2024 (Current):
Before: Price up 10%, Investment up 13% After so far: Price up 28%, Investment up 2%
While Bitcoin is still growing this election cycle, the gains are smaller than in previous elections. This might be because investors are waiting to see how future crypto policies will develop. #Disclamer -Not Buy and sale #EducationPurpouseStockMarket
News: ai16z founder: The promised 420 ai16z airdrop is being implemented, and the address list will be announced tomorrow
CryptoQuant CEO: The market is in a bull market, Bitcoin may rise to $135,000
Analysis: The recent strong rise in Bitcoin has attracted some funds from gold to Bitcoin The total open interest of Bitcoin contracts on the entire network exceeded US$55 billion
The total open interest of BTC options on the entire network is $37.4 billion, falling for three consecutive days
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