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Regardless of the gross sales, demand managed to soak up provide and saved BTC near 100 thousand USD.
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The value of bitcoin reached an all-time excessive yesterday: $99,600.
Whereas the neighborhood bitcoiner expects the worth of Bitcoin (BTC) to cross $100,000 for the primary time in historical past, the gross sales document recorded yesterday, November 22, 2024, prevented it from surpassing that mark.
In keeping with information from the evaluation platform on-chain glass node, $10.5 billion in bitcoin They have been bought by customers and buyers, capitalizing that quantity as internet realized income. This can be a document profit-taking determine, as may be seen within the graph beneath:
This could possibly be an reason, simply yesterday, the worth of bitcoin stayed on the threshold of $100,000, having marked a brand new all-time excessive (ATH) within the $99,600 space.
Regardless of document gross sales, demand did its job
On the time of this text, BTC is buying and selling round $98,800, in keeping with information from CoinMarketCap. In comparison with the final ATH on November 22, 2024, the present worth of bitcoin decreased by 0.79%. However given a revenue taking of the extent that occurred yesterday, the logical factor would have been a higher fall.
That’s to say, regardless of the document gross sales of $10.5 billion, which elevated the provision of bitcoin available in the market, demand managed to monopolize that provide of BTC sufficient to maintain its worth near $100,000.
Added to the information noticed by Glassnode, there are nonetheless monstrous bitcoin sale orders pending from the realm of $99,600 to $100,900, as we have now reported in CriptoNoticias.
For instance, within the vary of $99,600 to $100,000 of the worth of bitcoin there are promote positions of greater than 2,000 BTCwhich is equal to nearly 200 million {dollars}.
Nevertheless, regardless of the existence of those big orders to promote BTC, analysts have lately projected the worth of bitcoin at “a minimal of $285,000 and a most of $600,000” for the present bullish cycle. That’s to say, the brake can be short-term and as soon as the mark is handed, the expectation may be very excessive.
On this approach, the expectation of seeing bitcoin for the primary time cross $100,000 can be at a important level, with important gross sales that might be stopping it from reaching it, however with demand and bullish projections that preserve that latent risk.
