Latest Price Trends

Bitcoin's price has surged, attempting to establish a supportive position above $76,000 after several efforts during the Asian and European trading sessions. As of now, BTC recorded a 1.7% increase within the last 24 hours, nearing its record high of over $76,900, achieved recently. The total cryptocurrency market saw a 4% rise, aided notably by a 16% increase in Cardano's ADA to approximately $0.43.

Similarly, Solana's SOL token also rallied, surpassing the $200 mark for the first time since March, currently trading above $204, representing an 8.75% rise in the past 24 hours.

Market Insights

Traders are eyeing $100,000 as the next price target for Bitcoin as it rides the momentum from President-elect Trump's victory, alongside an anticipated 25 basis-point rate cut by the Federal Reserve.

However, concerns linger regarding possible market consolidation and the implications of proposed tariffs on China. Analyses suggest that despite these uncertainties, the possibility of Bitcoin reaching between $100,000 and $110,000 within 2-3 months remains strong, particularly in light of the current bullish sentiment. Kuptsikevich remarked, *"In general, we stick to the idea that the new highs have triggered a powerful new growth wave..."

Bitcoin ETFs Update

On an exciting note for the crypto market, Bitcoin ETFs in the U.S. recorded a historic $1.38 billion in inflows on the day of Trump's election victory. BlackRock's IBIT led the charge with over $1.1 billion. This reflects a broader trend indicating growing investor confidence in cryptocurrency assets, particularly with expectations of favoring policies for the sector.

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