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BTC $96,420 +2.34% ETH $3,280 +1.82% SOL $185.40 -0.92% BNB $642.50 +0.45% XRP $2.18 +3.12% DOGE $0.082 -1.50% ADA $1.05 +0.80% AVAX $42.10 +1.15%
BTC $96,420 +2.34% ETH $3,280 +1.82% SOL $185.40 -0.92% BNB $642.50 +0.45% XRP $2.18 +3.12% DOGE $0.082 -1.50% ADA $1.05 +0.80% AVAX $42.10 +1.15%
11/26/2024

Bitcoin $100K: A Major Barrier, But the Market Stays Bullish Across 5 Key Metrics

Bitcoin came within striking distance of $100K, hitting a peak of $99,588 on November 23 before pulling back to a low of $92,300. ETH and SOL also saw corrections, dropping to $3,300 and $230 respectively. Over the past 24 hours, the market liquidated $528 million, with $386 million coming from long positions. So what's keeping BTC from breaking through $100K? According to Glassnode, long-term holders are selling 360,000 BTC per month — the highest level since April 2024. Despite the pullback, these 5 data points show the market still has plenty of reason for optimism.

Bitcoin $100K: A Major Barrier, But the Market Stays Bullish Across 5 Key Metrics

Bitcoin came within striking distance of $100K, hitting a peak of $99,588 on November 23 before pulling back to a low of $92,300. ETH and SOL also saw corrections, dropping to $3,300 and $230 respectively. Over the past 24 hours, the market liquidated $528 million, with $386 million coming from long positions.

So what's keeping BTC from breaking through $100K? According to Glassnode, long-term holders are selling 360,000 BTC per month — the highest level since April 2024.

Despite the pullback, these 5 data points show the market still has plenty of reason for optimism:

1️⃣ Strong Bitcoin ETF inflows
Spot Bitcoin ETFs recorded net inflows of $301.6 billion, averaging $6 billion per day.

2️⃣ Stablecoin market cap hits a record
Total market cap reached $189.9 billion (+3.28% over 7 days), with USDT and USDC adding $12.1 billion and $4.3 billion respectively just this month.

3️⃣ Total crypto market cap hits a new all-time high of $3.2 trillion
Surpassing the previous record of $2.86 trillion set in 2021, the crypto market continues to surge.

4️⃣ ETH/BTC ratio rises
ETH/BTC reached 0.0362 as Bitcoin's market dominance slipped below 58%. Altcoins are holding their ground.

5️⃣ Futures open interest hits record highs
Open interest (OI) for BTC and ETH futures reached all-time highs of $640 billion and $215 billion respectively.

While Polymarket puts only a 25% probability on BTC reaching $100K this month, many analysts believe Bitcoin will undergo a 20%–30% correction before resuming its strong upward trajectory.