The cryptocurrency market witnessed a historic milestone this Wednesday (December 5, 2024). Bitcoin (BTC), the world’s largest and most relevant cryptocurrency, surpassed the $102,690.23 mark, consolidating an impressive growth of 6.33% in just 24 hours.
This movement not only reflects the growing confidence of investors, but also highlights the impact of global factors that have driven interest in decentralized assets. With a trading volume of over 8.22 billion USDT in the last 24 hours, Bitcoin reaffirms its status as the leading reference in the cryptocurrency market.
Factors that drove growth
The increase in the price of Bitcoin can be attributed to several factors, including:
1. Institutional Adoption: Large financial institutions are strengthening their positions in Bitcoin, seen as a store of value and protection against inflation.
2. Global Demand: Investors seek alternative assets in a scenario of global economic uncertainty.
3. Upcoming Halving: The expectation of the next Bitcoin halving in 2024 continues to increase market interest.
Impact on the Cryptocurrency Market
Bitcoin's positive movement has also had repercussions on other cryptocurrencies, with altcoins following the market's optimism. BTC's dominance exceeds 50%, consolidating its position as the leading asset, while traders and investors evaluate new opportunities.
Next Steps for Bitcoin
Experts point out that breaking the $100,000 resistance level could pave the way for new highs, with projections ranging from $110,000 to $120,000 in the coming days, depending on market strength and macroeconomic developments.
With this new historic milestone, Bitcoin reaffirms its relevance and keeps investors attentive to its promising future.
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