Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesBotsEarnCopy
Bitcoin Reached New ATH and Lack of FOMO Suggests $100K Is Next

Bitcoin Reached New ATH and Lack of FOMO Suggests $100K Is Next

CryptopotatoCryptopotato2024/11/19 16:00
By:Author: Jordan Lyanchev

The social media comments are nowhere near euphoric as they were after the US elections.

After a week-long consolidation with a few corrections below $90,000, bitcoin’s bull run resumed yesterday, and the asset charted a fresh peak of just over $94,000.

On-chain and social data indicated that the asset’s rally could be far from over, and the question arises of whether it has the legs to go to the coveted $100,000 level .

BTC’s ATH Driven by…?

CryptoPotato reported yesterday’s price surge that pushed BTC to just shy of $94,000, but it climbed minutes later to $94,040 (on CoinGecko), which is the current all-time high. Many experts suggested that the primary reasons behind this surge are related to US-based ETFs.

On the one hand, the spot Bitcoin ETFs have continued to see massive demand, with over $1 billion of net inflows in the first two days of the business week. On the other, the launch of the BlackRock iShares Bitcoin Trust (IBIT) yesterday also saw significant volumes. Bloomberg’s ETF expert, James Seyffart, commented, “These options were almost certainly part of the move to the new Bitcoin all-time highs today.”

On the matter of whether BTC could continue to rally, Santiment published a chart demonstrating that the current FOMO levels are nowhere near close to the euphoria after Donald Trump’s victory in the 24 US presidential elections two weeks ago.

Generally, high levels of FOMO lead to corrections, as it happened last week, but the landscape seems a lot healthier now.

The Healthier Landscape

Even before BTC’s peak and the confirmation of weak FOMO, the analytics platform noted that the long-term indicators for bitcoin and the rest of the market look “quite sound.”

This is shown by the Mean Dollar Invested Age line. The metric is declining, showing that the “average age of all tokens stagnantly moving in the same wallets is getting “younger.””

“In any long-term bull market, it is necessary for older, dormant coins continuously moving back into circulation. This has been the most evident case of this since the initial flow of stagnant whale coins began moving aggressively back in October, 2020.” – concluded Santiment.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

Web3 ai Could Lead 2025’s Best Cryptos With 1,747% ROI, Outshining Toncoin & Chainlink’s Performance

Toncoin (TON) and Chainlink (LINK) show strong market positions, but Web3 ai’s AI-driven platform and sub-$0.001 price point may offer greater potential for exponential growth.Toncoin (TON): Leveraging Telegram’s Ecosystem for GrowthChainlink (LINK): Technical Indicators Point to Potential BreakoutWeb3 ai: Affordable Entry with AI-Driven Security ToolsClosing Thought

Coinomedia2025/05/24 23:40
Web3 ai Could Lead 2025’s Best Cryptos With 1,747% ROI, Outshining Toncoin & Chainlink’s Performance

Ethereum Set to Soar Past $4,000 Again

Ethereum eyes a comeback above $4,000 with a projected 55% surge amid rising market optimism.What’s Driving the Ethereum Rally?Could Ethereum Break Past Its All-Time High?

Coinomedia2025/05/24 23:40
Ethereum Set to Soar Past $4,000 Again

Lark Davis: Best Time to Make Money in Crypto

Crypto analyst Lark Davis says this is the best time to make money in crypto. Here’s why you should pay attention now.Why This Window Matters So MuchHow to Lock In for Maximum Gains

Coinomedia2025/05/24 23:40
Lark Davis: Best Time to Make Money in Crypto

Top Rated Cryptos to Buy in 2025: BlockDAG, Tron, Polygon, and Polkadot Line Up Ahead of Q3 Shift

Explore the top rated cryptos to buy in 2025, featuring BlockDAG’s limited-time 'Double Your BDAG' offer, and why Tron, Polygon, and Polkadot are gaining strong attention this year1. BlockDAG (BDAG)2. Tron (TRX)3. Polygon (MATIC)4. Polkadot (DOT)Closing View on Key 2025 Contenders

Coinomedia2025/05/24 23:40
Top Rated Cryptos to Buy in 2025: BlockDAG, Tron, Polygon, and Polkadot Line Up Ahead of Q3 Shift