Bitcoin sets a new record - Marching towards 100 thousand dollars!
Bitcoin breached the $99,000 level for the first time on Thursday. According to Coin Metrics, the cryptocurrency's price was last higher by more than 4% at $98,273.50. Previously, it rose to $99,046.94.
Investors took gains in crypto stocks amid a broader rotation out of tech. Crypto exchange Coinbase was lower by 7.7% and MicroStrategy down 16.2%. Mining stocks were under pressure, with the exception of Mara Holdings, down about 6.9%.
Bitcoin has regularly hit new highs this month on hopes that Trump will usher in a golden age of crypto, which will include more supportive regulations for the industry and a potential national strategic bitcoin reserve or reserve.
This latest move was triggered by an increase in funding rates and open interest in the futures market during trading in Asia. Around the same time, premiums in spot markets fell, according to data from CryptoQuant.
Bitcoin's recent higher moves also sparked a wave of short liquidations of more than $100 million in a 24-hour period at one point, according to CoinGlass driving the price further overnight.
"Looking at previous moves of this magnitude, BTC has historically either gone through a period of consolidation, or ignored the overbought condition as investors piled in," said Rob Ginsberg, an analyst at Wolfe Research.
"Given that we are just coming out of one of those long consolidation periods and the price is currently at a new high...something tells us that the chase is on," he added. "The real test will come when the key psychological level of $100,000 is likely to be reached in the coming weeks" and could arrive as early as Thursday.
Poll
EU plans to increase air and missile defense with 18 member states!
Strengthening European air and missile defense capabilities is now one of the priorities of military cooperation within the EU. A total of 18 EU member......
Even the Vatican, in crisis for pensions! - According to Pope Francis, the state fund may require structural changes
Pope Francis recently signaled that the Vatican's pension fund is facing a "serious imbalance" that could require changes to its operating structure and......
13 billion financial transactions every year - American technology giants under the "magnifying glass" of the government!
Silicon Valley tech giants and others that together process more than 13 billion financial transactions each year through digital wallets and payment apps......
In Tirana, 435 fewer businesses were opened than last year - Which categories of subjects closed their doors in 9 months?
The data of the Municipality of Tirana and the General Directorate of Local Taxes and Fees, processed by Scan TV, show that in the 9-month period of this......
The "Great Dictionary of the Albanian Language" is presented - Manastirliu: It contains 120 thousand words, proof of our expressive culture
On the second day of the National Assembly for the Albanian Language, organized by the Ministry of Education and Sports, the "Great Dictionary of the......
A big blow to the European market - Europe's largest EV battery manufacturer declares bankruptcy!
Swedish battery cell maker Northvolt AB, which makes batteries for electric vehicles (EVs), has announced that it has filed for Chapter 11 bankruptcy in the......
What options are being discussed for the new pension scheme? From bonuses to the increase in age and the public-private pillar
The Deputy Minister of Economy, Culture and Innovation, Olta Manjani, explained in the 'DATAROOM' show on SCAN the reason why for existing pensioners, it was......
The Greek government drafts the 2025 budget - It is expected to be voted on in the parliament on Sunday, December 15
The Greek government has submitted the 2025 draft budget for discussion in Parliament, which is expected to be approved on Sunday, December 15. This document......
