Bitcoin (BTC) Hits $100,000: Momentum New All-Time Highs
Bitcoin (BTC) price has reached a historic milestone, surpassing $100,000 for the first time and reaching a market capitalization of $2 trillion. This makes BTC more valuable than Saudi Aramco, bringing its market capitalization close to Alphabet.
Bitcoin’s current uptrend looks set to continue as its EMA line shows strong bullish momentum and key indicators suggest there is room for further growth.
Bitcoin’s current trend could get stronger
Bitcoin The DMI chart shows that its ADX increased from 15 to 24.4 in just one day, indicating that the trend is strengthening. This increase indicates that Bitcoin is moving from weak market conditions to a clearer trend.
Combined with the uptrend shown by other indicators, the growing ADX reflects increasing momentum that could drive further price action.
ADX (Average Directional Index) measures the strength of a trend, with values above 25 indicating a strong trend and values below 25 indicating market weakness or consolidation. Bitcoin The current ADX is 24.4, D+ is 31.2, and D- is 9.8, indicating that buyers maintain significant control.
While the trend strength has not yet reached the levels seen during the $90,000 rally (ADX above 40), the current upward trajectory suggests that further price gains are possible if momentum continues to build.
Bitcoin NUPL shows more room for growth
The Bitcoin NUPL chart shows that NUPL is currently at 0.62, slightly down from 0.63 a few days ago. NUPL (Net Unrealized Profit and Loss) measures market participants’ profits relative to their losses, providing insight into market sentiment.
Values between 0.5 and 0.7 are classified as the “belief-denial” phase, during which optimism grows but has not yet reached its peak.
Although BTC is up an impressive 49.65% in the past 30 days, its NUPL of 0.62 suggests that the market has not yet entered “excited” territory. This region is typically achieved when NUPL reaches 0.7.
This shows that although market sentiment is bullish, bitcoin price It’s far from overextended. Historically, reaching the euphoric phase has coincided with significant price corrections, suggesting there is room for further growth before then Bitcoin Get to that level.
BTC Price Prediction: Can Bitcoin Reach $110,000 in December?
bitcoin price The chart shows that its EMA lines are in a strongly bullish configuration, with the short-term lines above the long-term ones and the price trading above all lines.
This arrangement indicates strong upward momentum. If the trend strengthens further and NUPL remains below the euphoric zone, BTC may soon test $110,000now less than 7% away from the threshold.
However, before the new surge, bitcoin price A retest of the key support at $99,000 is likely. If this level fails to hold, the price could drop further to $90,000 before trying to reach new all-time highs.
Disclaimer
conform to trust project Guide, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to providing accurate and unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult a professional before making any financial decisions. Please note that our terms and Conditions, privacy policyand Disclaimer Updated.
