Bitcoin (BTC) has hit another milestone as it reached a new all time high(ATH) of $94,954.67 in the early hours of this morning. It is currently quoted at $94,897. 61, up 3.16% in the past 24 hours. In response to this development, the probability of BTC reaching $95,000 in November has also increased significantly on Polymarket, reigniting excitement among investors keen on tracking Bitcoin Price Prediction trends.
Bitcoin Price Trends Now
The market cap for BTC has jumped by 2.98%, now standing at a staggering $1.88 trillion. However, the 24-hour market volume has decreased slightly by 1.38%, settling at $73.19 billion.
Notably, BTC remains ahead of petroleum giant Saudi Aramco, which has a market cap of $1.805 trillion, as the seventh most valuable assets globally.
On the technical side of this crypto, the Simple Moving Average (SMA) for 10 days is 90,952, indicating a “Buy” action. Meanwhile, the Relative Strength Index (RSI) stands at 79, signaling a “Neutral” action and suggesting an overbought position, which may imply a potential correction in the future even as the value shows upward momentum. Overall, these indicators reflect a bullish and strong BTC market.
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The crypto market has shown impressive performance since the election results were announced, and optimism is likely to persist given the launch of new spot Bitcoin ETF options trading, increased ETF inflows, companies adopting Bitcoin reserves, and, most importantly, the potential for Bitcoin to be recognized as a national reserve asset in the U.S.
Speaking of the influx of funds in BTC exchange-traded funds (ETFs), the daily net inflow as of November 20 reached $146.95 million, which has resulted into a cumulative net inflow of $28.70 billion.
Thanks to Bitcoin’s rally, bettors on prediction market, Polymarket, now feel the probability of BTC reaching $95,000 in November is 95%, up from 79% on November 20 when Bitcoin was hovering around $92K.
On Kalshi, which is yet another popular market prediction platform, users are speculating on how high BTC will go this week. Currently, 46% believe BTC will reach $98,000 and above, 60% predict it will surpass $97,000, and 73% anticipate it climbing to $96,000 or higher.
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Also Read: Analyst: Bitcoin Uptrend Is Far From Over; $100K in December?
