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Bitcoin approached the $100,000 mark this week, trading around $95,600 after a brief dip to $90,702.27, as investors took profits amid concerns that the psychological barrier may hinder further gains. Analysts suggest that the recent surge could mislead investors, with some viewing it as a return play rather than a reflection of intrinsic value. Meanwhile, the U.S. is considering looser chip export restrictions, and China is tightening tungsten exports, impacting global markets.
U.S. stocks rallied to record highs following President-elect Trump's Treasury secretary pick, Scott Bessent, whose market-friendly approach has garnered investor approval. The S&P 500 rose 0.3%, with small-cap stocks outperforming, while bond yields fell significantly. Intel is also nearing substantial government contracts, adding to positive market sentiment.
Bitcoin's ascent towards the $100,000 mark has stalled, trading around $98,243.25 after a significant rally post-U.S. elections. Analysts attribute this pause to profit-taking by long-term holders and a recent surge in selling pressure, while some anticipate a potential correction amid high leverage in the market. Despite these challenges, there remains optimism for future gains, bolstered by a tightening supply and ongoing pro-crypto sentiment from political figures.
Andre Dragosch
People
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
bitcoin approaches 100000 as market strategists express mixed views
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02:01 29.11.2024
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02:13 26.11.2024
bitcoin struggles to break 100000 as profit taking and selling pressure rise
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14:23 25.11.2024
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