News Scrap

Today, Bitcoin’s trade price reached a new all-time high of $79,800, with the current price hovering around $79,000. In the last 24 hours, Bitcoin’s price surged by 3.5%.

In the same timeframe, Ethereum (ETH) also experienced a rise of 5%, with its current trade price at $3,188.

Bitcoin’s price has climbed nearly 16% over the past week, with a significant pump following Donald Trump’s victory in the U.S. presidential election. While many attribute this rally to Trump’s win, some argue that Bitcoin’s bull run operates independently of real-world events. They point to the regular cycles of sharp gains that tend to occur every 3-4 years.

ETF Money Inflow in Bitcoin Market

It was previously reported that on November 8, Bitcoin spot ETFs recorded a total net inflow of $293 million, following an inflow of nearly $1.4 billion on November 7.

Bitcoin Analysts on the Current Phase

Crypto price analyst Ali commented on the current bull run, indicating that he plans to increase his Bitcoin investment if Bitcoin experiences a correction, with a target range of $71,500 to $69,000 as a safety measure. He also predicted a possible dip to around $73,000.

Maybe it’s just wishful thinking, but I’m really eyeing a correction to stack more #Bitcoin.

Looks like $BTC broke down from a rising wedge, hinting at a target around $73,900. I’m also placing buy orders at $71,500 and $69,000 as backup – let’s see where it goes! pic.twitter.com/19TrlfnNTy

— Ali (@ali_charts) November 9, 2024

Another prominent crypto analyst, Titan of Crypto, expressed enthusiasm about this bull phase of Bitcoin, calling it the moment long-awaited by many in the crypto community, suggesting that Bitcoin’s upward trend is far from over.