Why is Bitcoin Price Up Today?

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Bitcoin has been skyrocketing to all-time highs after the election. The price is up by more than three percent in the last 24 hours and is currently trading above the crucial $94,500 mark. Majority of the top 10 cryptocurrencies are trading in green, keeping the overall market sentiment positive. Yesterday, Bitcoin was testing the $91k levels. However, with renewed hope and constant institutional interest, the anticipation of hitting the $100k mark has kept everyone on the edge. 

Santiment revealed that Bitcoin’s new all-time high has reached $94,400, yet the overall commentary on social media remains relatively calm. This lack of excitement is actually a positive sign, as fear of missing out (FOMO) often leads to price corrections. As long as retail traders remain skeptical, large investors (whales) can continue to drive Bitcoin’s price higher with minimal pushback.

Bitcoin Price Prediction:

The next key levels to watch are $95k, $97k, and even $100k, but there’s no guarantee we’ll reach them yet. While Bitcoin is seeing some gains, altcoins aren’t doing much right now. If Bitcoin continues to climb, it may cause a shift in focus back to altcoins, but we need to be careful about a potential pullback.

If Bitcoin experiences a pullback, it might not be a sharp crash; it could just be a sideways correction, which would still allow for more upward movement after. The key here is to watch for a continuation above key levels and to keep an eye on the individual altcoins for any support breakdowns.

However, BTC is still looking for higher prices, as long as the support holds, but the market structure is a bit choppy and uncertain. Momentum isn’t too strong, and there’s a possibility this could be a temporary correction rather than a clear upward wave.