Wall Street powerhouse Cantor Fitzgerald plans to launch a multibillion-dollar lending program using bitcoin as collateral, potentially reshaping crypto-backed financing and deepening ties with Tether Holdings. Cantor Fitzgerald’s Crypto Strategy: A Pivotal Moment for Bitcoin’s Future Howard Lutnick, chairman and CEO of Cantor Fitzgerald, a leading global financial services firm, is reportedly working to bolster
Bitcoin has surged past the $99,800 mark, setting a new all-time high as it inches closer to the psychological $100,000 barrier. While the milestone signals remarkable strength, the price has yet to claim this key level, leaving investors in suspense. Market demand remains robust, fueling optimism that Bitcoin will soon break above the $100,000 threshold. Related Reading: Massive Ethereum Buying Spree – Taker Buy Volume hits $1.683B In One Hour Key data from CryptoQuant reveals that Bitcoin’s Realized Profit has reached an all-time high of $443 million in daily gains. This highlights significant buying pressure in the market as traders and long-term holders lock in unprecedented profits. However, this record-breaking profit-taking is also sparking concerns among some investors. They fear the rally could stall, interpreting the surge in realized profits as a potential signal of a local top scenario. Despite these mixed signals, the overall market sentiment leans bullish. Bitcoin continues to hold above crucial support levels, suggesting that demand remains strong enough to drive the next leg up. With the cryptocurrency just shy of a monumental breakthrough, the coming hours and days will be critical in determining whether Bitcoin’s momentum can sustain a decisive move beyond $100,000 or if a temporary consolidation is on the horizon. Bitcoin Rally Could Continue Above $100K Bitcoin’s rally from $66,800 to $99,800 has marked a unique and unexpected bullish phase in 2024. As prices approach the elusive $100,000 milestone, many investors who doubted Bitcoin’s potential to hit this level this year are now revising their expectations. The surge has been driven by strong demand and market confidence, making a breakout above $100,000 seem inevitable. Should this occur, analysts widely anticipate a bullish continuation for Bitcoin, further solidifying its dominance in the crypto space. Related Reading: Avalanche Soars 20% In 24 Hours – Analyst Reveals Next Price Target However, market dynamics suggest the journey to $100,000 may not be without hurdles. Corrections during this phase are not only possible but could also be beneficial for market health. A pullback would provide an opportunity for consolidation, potentially giving altcoins the space to recover and initiate their own rallies. Critical insights from CryptoQuant analyst Maartunn shed light on the aggressive nature of this rally. Data shows Bitcoin’s Realized Profit recently hit an all-time high of $443 million daily, reflecting significant profit-taking activity. While this confirms robust buying pressure, it also raises concerns among cautious investors who interpret the spike in profits as a potential sign of a local top. Despite these concerns, there’s room for growth in Bitcoin’s trajectory. Maintaining support above $95,000 would sustain bullish momentum, but a healthy correction from current levels might also provide the fuel needed for a stronger push beyond $100,000 in the near future. BTC Testing Crucial Supply Bitcoin is currently holding strong above the $97,000 mark, maintaining bullish momentum as it eyes a push above the $100,000 milestone. This level represents a significant psychological and technical barrier, and market sentiment remains optimistic about Bitcoin’s potential to break it. With demand staying robust, many investors are preparing for an explosive surge that could define Bitcoin’s trajectory in the coming weeks. However, there are growing concerns about the possibility of Bitcoin setting a local top. If this scenario materializes, the price could enter a consolidation phase, potentially lasting several weeks as the market digests recent gains. Analysts suggest that holding above the $98,000 level in the next few days would keep bullish momentum intact and pave the way for a breakout above $100,000. Related Reading: Polkadot Holds Key Demand Level – DOT Could Hit $11 In Coming Weeks On the other hand, if Bitcoin fails to hold the $97,000 mark, it could signal the start of a healthy correction. In this case, the price may retrace to the $92,000 level, a key demand zone that would likely act as strong support. A pullback to this level would allow Bitcoin to regroup and build the foundation for another push higher, reinforcing its long-term bullish trend. Featured image from Dall-E, chart from TradingView
Bitcoin’s recent plunge and remarkable recovery showcases market volatility, underscoring the ongoing dynamics within the cryptocurrency landscape. Market sentiment remains robust despite short-term fluctuations, as both retail and institutional investors
The decline pushed long liquidations to an 11-day high, exceeding $344 million, while shorts incurred losses of approximately $136 million.
In the last few days, the bulls have taken over the crypto market, where many tokens have gained new highs, including the failing ones Hamster Kombat and X Empire. With the Bitcoin price nearing $100K, these failing Tap-to-earn tokens have also met with the bulls, aiding in their recoveries. However, the question still stands the The post Hamster Kombat Vs X Empire: Where to Invest in November End? appeared first on CoinGape .
As whale activity increases and the price of Dogecoin approaches crucial resistance levels, the cryptocurrency is once again in the spotlight. Despite the positive momentum driving its price beyond $0.5,
Monday might become day of records for cryptocurrency market
The recent surge in altcoin prices has led to significant liquidations across the cryptocurrency market, marking a stark contrast to Bitcoin’s struggles near the $100,000 threshold. As of November 24,
Dogecoin, XRP, Stellar and Sandbox saw a larger liquidation share than usual as some top altcoins from the 2020-2021 cycle soared as high as 50%.
The head of South Korea’s top financial regulator has dismissed the notion of creating a national Bitcoin reserve “for the time being.” The post South Korea’s Top Regulator Dismisses Talks of Building National Bitcoin Reserve appeared first on Cryptonews .