Bitcoin, the preeminent crypto asset, has shattered expectations by breaking the $90,000 barrier, achieving a historic new high. This monumental rise occurred in the wake of the U.S. presidential election, following President Donald Trump’s victory, which fueled an aggressive bullish trend that propelled BTC from $75,000 to beyond $90,000.

On Tuesday Nov. 12, BTC soared past $90,000.

Market experts link this significant price movement to heightened institutional interest, particularly following the U.S. Securities and Exchange Commission’s approval of several spot bitcoin exchange-traded funds (ETFs) at the start of this year. The increased investment from these institutions during the first three quarters of 2024 significantly bolsters confidence in bitcoin’s viability as a major asset class.

Just before 4 p.m. Eastern Time on Tuesday, BTC jumped past $90K to $90,243 per coin.

Despite the optimism, the daily chart’s oscillators suggest caution. The relative strength index (RSI) is nearing overbought territory at 84, hinting at a possible pullback, while the commodity channel index (CCI) also indicates a bearish signal at 220. Conversely, the moving average convergence divergence (MACD) and momentum indicators show strong buying signals, suggesting the potential for further upside toward the six-digit range.

This current rally highlights the growing institutional acknowledgment of bitcoin as a cornerstone of modern investment portfolios. Retail investors seem to be heading toward the market as well. However, as with all market ascents, the potential for volatility and a healthy correction looms, requiring investors to stay informed and agile. Despite a probable drawdown, bitcoin hitting $90K in 2024 is quite the achievement.

免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。