Bitfinex reports that unprecedented inflows into Bitcoin ETFs and strong institutional demand have pushed Bitcoin closer to the historic $100,000 mark, though long-term holders (LTH) are also starting to take profits. Despite facing profit-taking resistance near $99,334 (its latest all-time high), BTC showed resilience, holding steady near $96,000 over the weekend before regaining some momentum in early trading on Monday.
With BTC now up 47% since its pre-election low of $66,880 in the US and up 130% so far this year, BTC's outperformance relative to traditional assets is undeniable: Bitcoin's market cap has now surpassed Saudi Aramco, solidifying its position as the seventh largest asset in the world, with a valuation of up to more than $1.90 trillion.
Bitfinex report: Bitcoin long-term holders are starting to take profits
2024-11-25 16:02:11
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