Bitcoin $BTC , demonstrating steady growth for the third consecutive day, set a new historical maximum during the latest trading.
The price of the largest cryptocurrency has for the first time surpassed the mark of $94,000, reaching a record value of $94,850.

This week, the cryptocurrency market led by Bitcoin resumed its growth after a brief lull accompanied by profit-taking. However, this phase was quickly replaced by active demand, pushing quotes closer to the cherished goal of $100,000.

On November 19, the price of bitcoin reached a new all-time high, which allowed one trader to earn a profit of $6.85 million. This information was published by Lookonchain specialists.
From November 6 to 8, the user sold 619 WBTC for $46.44 million at an average price of $75,029, which brought him $8.85 million. However, soon the bitcoin price exceeded $80,000.

The fear and greed index at 90 indicates an extreme level of greed in the market. In the context of cryptocurrency trading, this usually means that the market is at a peak of optimism, and prices are likely inflated due to the euphoria of participants. Here’s what this might mean:

Long or short?

In the first half of November, the economics of Bitcoin mining showed noticeable improvements, according to an analysis by JPMorgan experts. The main factor was the growth in mining profitability amid the increase in Bitcoin's price, reports CoinDesk, citing a report from the investment bank.

Growth in mining profitability
Analysts Reginald Smith and Charles Pierce noted that the Bitcoin Hashprice Index has risen by 29% since the end of October. This growth is explained by the following factors:

The $GOAT token, previously a leader among meme coins, is facing a significant challenge. Its positions have come under threat following the emergence of the competing token Peanut the Squirrel ($PNUT ), which is rapidly gaining popularity.
Rise of PNUT and weakening of GOAT
The rapid rise of PNUT has put pressure on GOAT's market positions, leading to a decline in investor interest in the latter. Despite this, many traders hope for the recovery of the meme coin's former positions.

Bernstein analysts have identified key factors that could drive Bitcoin ($BTC ) to $200,000. One of the most important events will be the appointment of new leadership for the US Securities and Exchange Commission (SEC) and the Treasury Department after January 20, 2025, if Donald Trump is re-elected. Among the likely candidates for the post of SEC head are hedge fund manager Scott Bessent and Cantor Fitzgerald CEO Howard Lutnick.