Bitcoin Tops $93K
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Bitcoin hit a new all-time high, surpassing the $93,000 mark.
This surge was primarily attributed to post-election optimism and October’s inflation figures, which indicated a 12-month rate of 2.6%.
The cryptocurrency has now rallied for four consecutive trading days. It remains to be seen whether this upward momentum can be sustained or if a short-term consolidation phase is imminent.
During the previous session, the cryptocurrency exhibited a volatility of 8.44%, with a low of $86,220.50 and a high of $93,495.00.
Over the past 10 days, the price has increased on eight occasions, resulting in a 28.39% gain over the last two weeks.
Dogecoin also experienced a 3% uptick, likely influenced by Elon Musk’s recent appointment in the Trump administration. These market movements suggest increasing bullish sentiment towards cryptocurrencies.
Data: eToro, FactSet, Morningstar, S&P Capital IQ, ProRealTime, MarketScreener