Bitcoin has reached a new milestone, climbing to over $98,000 during the U.S. morning trading session. This surge comes after an extended period of consolidation following the election of crypto-friendly Donald Trump as U.S. president.
The leading cryptocurrency has seen a 4.5% increase in value over the past 24 hours, outpacing the broader CoinDesk 20 Index. Altcoins such as ether (ETH), Chainlink (LINK), and Uniswap (UNI) have also experienced significant gains, with some rising as much as 5% in just one hour.
With the $100,000-per-BTC mark within reach, BTC futures on Deribit maturing next year are already trading above this threshold. However, investors may face resistance at this key level, as profit-taking could trigger a pullback following a rapid 40% rally in just two weeks.
Gracy Chen, CEO of crypto exchange Bitget, warned that breaking through $100K could lead to a potential sell-off as investors reevaluate their positions. This phenomenon is common across asset classes, as significant round numbers often act as psychological barriers in trading.
