Bitcoin smashed the $89,000 level yesterday – proving the crypto faithful right again.
With the OG crypto on a tear, the big question on everyone’s mind is: can this rally finally push Bitcoin past the $100,000 mark?
Bitcoin’s Surge Prompts Historic Crypto Market Rally
The crypto market is having a historic moment as Bitcoin keeps pushing higher, hitting $89,956 in overnight trading.
What began as a steady uptrend has turned into a vertical rally.
Trading volumes have rocketed to $145 billion in the past 24 hours – an 86% jump that clearly indicates bullish conditions.
Bitcoin’s total market cap now sits at $1.76 trillion.
However, it’s not just spot trading that’s heating up.
The derivatives market is just as bullish, with open interest hitting a record $29.9 billion.
This speculation is rippling through the entire crypto space, fueling gains in everything from ETFs to mining stocks.
BlackRock’s iShares Bitcoin Trust, for instance, saw an enormous $4.5 billion in daily volume.
Meanwhile, stocks of crypto-focused companies like MicroStrategy and Coinbase have also rallied.
It seems the entire financial world is catching “crypto fever.”
Bitcoin to $100K – Is It Possible Before the End of 2024?
With Bitcoin now just 12% away from the six-figure mark, hitting $100,000 feels more realistic than ever.
The market made a similar 12% jump between Sunday and today, proving that when Bitcoin moves, it moves fast.
Investor sentiment has also taken a strong turn, with the Crypto Fear & Greed Index reaching levels not seen since April.
Confidence is running high.
Analysts are also becoming increasingly bullish, and prediction market Polymarket puts the odds of Bitcoin reaching $100,000 by year-end at 65%.
Well-known traders like The Bitcoin Therapist, who has a track record of spot-on predictions, says the six-figure target is “incoming.”
Still, a bit of caution might be wise.
Bitcoin hasn’t seen a meaningful correction on the 4-hour chart for ten straight days, so a short breather might be due.
But regardless of whether there’s a pause, the underlying momentum and strong institutional interest make $100,000 seem more like a matter of “when” than “if.”
Is Altcoin Season Next? Three High-Potential Tokens Making Moves as Bitcoin Soars
Bitcoin’s all-time highs are making headlines – but some traders believe an “altcoin season” might be right around the corner.
Several altcoins are showing impressive gains, hinting that the market’s appetite for risk is rising alongside Bitcoin’s rally.
Solana has been one of the top performers.
It’s up 37% in the past week, now trading at $219.
The momentum around SOL seems unstoppable, fueled by speculation that spot ETF approvals might be more likely when Trump is president.
Meanwhile, Cardano has been making its own moves, posting a massive 90% gain in the past week.
ADA is now at its highest price since April.
This rally has revived interest in ADA’s long-term potential and growing developer ecosystem.
Even the meme coin space is seeing an uptick in interest.
Newcomer Pepe Unchained is one of the hottest meme coins right now, raising over $27 million in its presale phase.
Investors can buy PEPU tokens for just $0.01259 while the presale is ongoing.
The team’s ambitious plan to launch a Layer-2 network just for meme coins has the analysts at 99Bitcoins predicting potential 100x gains.
Plus, Pepe Unchained also has a staking protocol, so holders can earn passive rewards while waiting for the roadmap to unfold.
These three altcoins suggest that while Bitcoin is leading the way, smart money might already be positioning for the next phase of the crypto bull run.
DISCLAIMER: This article is not intended as financial advice. Educational purposes only.
