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Breaking News: Bitcoin Price Slips Below $108,000: Peter Schiff Anticipates ‘Brutal’ Bear Market, CZ Responds
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Breaking News: Bitcoin Price Slips Below $108,000: Peter Schiff Anticipates ‘Brutal’ Bear Market, CZ Responds

Bitcoin Skyrockets To All-Time High Of $113,600: Rally Drivers Unveiled

Ronaldo Marquez
Ronaldo Marquez
3 months ago
2 mins read
Bitcoin

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Bitcoin (BTC), the leading cryptocurrency, is experiencing a remarkable surge, marking its second consecutive day of reaching new all-time highs. Just under 24 hours ago, the digital asset achieved a significant milestone by hitting $112,000 after nearly two months of stagnant price movement. 

However, on Thursday, Bitcoin soared even higher, reaching an impressive new record of $113,600. This latest uptick has ignited a wave of bullish sentiment, reflecting renewed optimism in the market.

Bitcoin Bulls Unleashed

The recent gains in Bitcoin’s value come amidst a broader rally in the financial markets. Major tech stocks, including Nvidia (NVDA), have surged as investors appear to be overlooking concerns related to US tariffs. 

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In addition to Bitcoin’s remarkable performance, other cryptocurrencies have also seen positive movement over the past day. Ethereum (ETH) rose by 6.6%, Solana (SOL) gained 3.4%, and XRP added 4.6%. 

In a greater display of apettie for even higher prices for the cryptocurrency, Bitcoin options traders are now setting their sights on even higher price targets as the cryptocurrency extends its record-breaking rally. 

Options Traders Bet On Further Price Surges

According to Bloomberg, with Bitcoin surpassing the $113,000 mark on Thursday, open interest—the number of outstanding contracts—on the Deribit exchange has shifted, focusing on call options with strike prices of $115,000 and $120,000. 

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Furthermore, longer-term options set to expire in late September and December have shown increased open interest at $140,000 and $150,000, signaling that traders are optimistic about Bitcoin’s future performance.

It remains to be seen whether the current momentum can be sustained by increased buying demand or if investors’ profit-taking behavior could cause BTC to correct to lower levels and establish a new support level for near-term future movements.

Bitcoin
The daily chart shows BTC reaching a new record peak. Source: BTCUSDT on TradingView.com

Featured image from DALL-E, chart from TradingView.com 

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Ronaldo Marquez
Ronaldo Marquez

Ronaldo Marquez

Ronaldo is an experienced crypto enthusiast dedicated to the nascent and ever-evolving industry. With over five years of extensive research and unwavering dedication, he has cultivated a profound interest in the world of cryptocurrencies.

Read more

Ronaldo's journey began with a spark of curiosity, which soon transformed into a deep passion for understanding the intricacies of this groundbreaking technology.

Driven by an insatiable thirst for knowledge, Ronaldo has delved into the depths of the crypto space, exploring its various facets, from blockchain fundamentals to market trends and investment strategies. His tireless exploration and commitment to staying up-to-date with the latest developments have granted him a unique perspective on the industry.

One of Ronaldo's defining areas of expertise lies in technical analysis. He firmly believes that studying charts and deciphering price movements provides valuable insights into the market. Ronaldo recognizes that patterns exist within the chaos of crypto charts, and by utilizing technical analysis tools and indicators, he can unlock hidden opportunities and make informed investment decisions. His dedication to mastering this analytical approach has allowed him to navigate the volatile crypto market with confidence and precision.

Ronaldo's commitment to his craft goes beyond personal gain. He is passionate about sharing his knowledge and insights with others, empowering them to make well-informed decisions in the crypto space. Ronaldo's writing is a testament to his dedication, providing readers with meaningful analysis and up-to-date news. He strives to offer a comprehensive understanding of the crypto industry, helping readers navigate its complexities and seize opportunities.

Outside of the crypto realm, Ronaldo enjoys indulging in other passions. As an avid sports fan, he finds joy in watching exhilarating sporting events, witnessing the triumphs and challenges of athletes pushing their limits. Furthermore, His passion for languages extends beyond mere communication; he aspires to master German, French, Italian, and Portuguese, in addition to his native Spanish. Recognizing the value of linguistic proficiency, Ronaldo aims to enhance his work prospects, personal relationships, and overall growth.

However, Ronaldo's aspirations extend far beyond language acquisition. He believes that the future of the crypto industry holds immense potential as a groundbreaking force in history. With unwavering conviction, he envisions a world where cryptocurrencies unlock financial freedom for all and become catalysts for societal development and growth. Ronaldo is determined to prepare himself for this transformative era, ensuring he is well-equipped to navigate the crypto landscape.

Ronaldo also recognizes the importance of maintaining a healthy body and mind, regularly hitting the gym to stay physically fit. He immerses himself in books and podcasts that inspire him to become the best version of himself, constantly seeking new ways to expand his horizons and knowledge.

With a genuine desire to become the best version of himself, Ronaldo is committed to continuous improvement. He sets personal goals, embraces challenges, and seeks opportunities for growth and self-reflection. Ultimately, combining his passion for cryptocurrencies, dedication to learning, and commitment to personal development, Ronaldo aims to go hand-in-hand with the exciting new era that the emerging crypto technology is bringing to the world and societies.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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