Bitcoin Hits New ATH!
Bitcoin's new peak sparks cautious profit-taking as investors remain optimistic about further gains, eyeing its potential to reach even higher levels.
Bitcoin (BTC) recently achieved a new all-time high of $89,868.49, sparking notable profit-taking among investors. Yet, the pace of these sell-offs remains lower than during previous highs, indicating room for potential future gains as demand appears to remain strong.
The average daily realized profits since early November have been around $1.56 billion—about half the $3 billion per day seen during previous market peaks. In total, investors have taken $20.4 billion in profits since Bitcoin entered this new phase of all-time highs. This cautious pace of selling reflects a broader sentiment that Bitcoin may still have room to grow and that its demand could remain strong.
Anthony Pompliano also highlighted a key factor that could drive Bitcoin’s price further: the recent $850 billion increase in U.S. national debt. He noted this as a significant development in what he sees as a “race to the sky” between Bitcoin’s value and government liabilities, reinforcing Bitcoin's appeal as a hedge against inflation and financial instability.
Despite the recent rally, Bitcoin’s stability around its current levels has surprised some observers. Swan Bitcoin CEO Cory Klippsten expressed that it is remarkable for Bitcoin to hold steady after such a rapid increase, even on relatively low trading volumes. This resilience indicates that many investors are holding onto Bitcoin with optimism for further gains, contributing to a positive outlook on its future price potential.
