Bitcoin traded near $90,000 on November 14, following an all-time high of $93,483 on Bitstamp. This surge occurred amid the release of US inflation data, with the Consumer Price Index for October aligning with expectations at 2.6%. Despite this, Bitcoin maintained its price trajectory, propelled by markets anticipating an over 80% chance of an interest rate cut by the Federal Reserve in December. Analysts, like Quinn Thompson, remain optimistic, predicting Bitcoin could reach $100,000 soon. Others, such as Michaël van de Poppe and trading platform contributor Onchained, see potential for Bitcoin to rise to between $180,000 and $200,000 based on proprietary indicators indicating current growth potential. They point out that significant upward movement is still possible before reaching a market peak. Additionally, strategic levels of liquidity around $95,000 are noted as crucial for further price developments, underpinning optimism in the current volatile crypto market.

Source 🔗