Bitcoin (BTC) Price Surprises Traders, Soars 120% to Hit $80K Milestone as Spot Bitcoin ETFs Pull in $26B
- Susan SarandonOriginal
- 2024-11-11 00:32:12548browse
Many traders betting on a pullback were caught off guard as Bitcoin quickly ran from $76,000 to $79,500 early Sunday, leading to $435 million in liquidations across the market.
Investors saw a glimmer of hope as the Bitcoin price recovered from the long bear market by rising above $38,000 again in November last year.
The targets for Bitcoin, which came to the fore again as we entered the new year, increased and the cryptocurrency reached a new milestone by exceeding $ 80,000 with an increase of 120 percent.
$0.08M pic.twitter.com/KX4FHShXA1
$0.08M pic.twitter.com/KX4FHShXA1
Many investors who traded in the market with the expectation that Bitcoin would pull back were surprised by the rapid rise of Bitcoin from $76,000 to $79,500 on Sunday morning, which led to a liquidation of $435 million in the market.
Bitcoin ETFs have played a pivotal role in Bitcoin's rise this year, seeing cumulative inflows of approximately $26 billion.
But while US-based ETFs are closed for the weekend, crypto Twitter phenomena are already bringing up the FOMO that Wall Street investors will experience at Monday's open.
Wall Street will experience FOMO on Monday…? pic.twitter.com/QtW07hldxj
Wall Street will experience FOMO on Monday…? pic.twitter.com/QtW07hldxj
All eyes are on Bitcoin now; Will the cryptocurrency continue its exploratory pricing or pull back?
MicroStrategy's executive chairman, Michael Saylor, appears to be betting on further bullishness, signaling that he is considering adding more Bitcoin to the company.
I think https://t.co/meaZhpFNq9 needs more green dots. pic.twitter.com/faeNCKavNQ
I think https://t.co/meaZhpFNq9 needs more green dots. pic.twitter.com/faeNCKavNQ
The company has made more than $10 billion in profits since it began its Bitcoin buying spree in 2020.
Kyle Baird is the weekend editor for DL News. Have a tip? Email kbaird@dlnews.com.
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