Bitcoin (BTC) starts the week once again fighting for US$100,000, a level considered a barrier for the market. At around 11 am (Brasília time), the digital currency registered an increase of 0.3% in the 24-hour period, quoted at US$ 97,758.48, according to data from the CoinGecko.
The euphoria that marked the cryptocurrency market shortly after the election of Donald Trump in the United States took the price of Bitcoin very close to US$100,000. But, over the weekend, the price lost strength and returned to US$95,000, in a movement that can be understood as a realization of recent profits – which is nothing more than the sale of an asset that has been appreciated by investors. who want to pocket their winnings.
Over the weekend, cryptocurrency settlements reached $500.45 million, according to the platform Coinglass. Liquidation occurs when the investor decides to sell the asset they own.
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Bitcoin has seen a strong rally in recent weeks following the Trump election. In addition to his pro-cryptocurrencies position, the Republican made several campaign promises that could favor the digital currency industry during his administration.
The latest news that excited investors last week and made Bitcoin surpass US$99,000 was the resignation of Gary Gensler, current president of the Securities and Exchange Commission (SEC), who will leave the position in January.
Gensler is seen as an opponent of the crypto sector. He has sued several companies and argues that practically all cryptocurrencies, with the exception of Bitcoin, are unregistered securities.
Despite the weekend correction, analysts remain optimistic that Bitcoin should surpass US$100,000 soon. “We continue to see strong demand for BTC coupled with further easing of monetary policy by global central banks, which tells us that Bitcoin prices will likely remain sustained as we approach the end of the year,” the crypto firm said. QCP Capital on Friday.
Jeff Mei, COO of the cryptocurrency exchange BTShighlighted the Bitcoin rally and highlighted that the movement is led by purchases from institutional investors, which should gain strength again from today. “Reaching the US$100,000 mark is very likely this week,” he said.
On the other hand, some reinforce that the US$100,000 level will not be overcome easily. “As we approach $100,000, the skew returns to levels seen only three times since 2022. While this does not threaten the medium-term rally, it does suggest that the struggle to surpass the $100,000 level could be intense,” said the crypto brokerage firm FalconX in report.
After the correction of the last few days, this Monday is marked by an increase in practically the entire cryptocurrency market. Ethereum (ETH), the second largest digital currency by market value, rises 4.8%, quoted at US$3,488.34.
Among the highlights, XRP, a cryptocurrency created by the company Ripple, is up 4.6%, at US$1.44, reaching gains of more than 29% in the last seven days.
