NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning

Bitcoin Abruptly Surges as the Dollar Falls—is This Sustainable?

Joseph Young
Joseph Young
1 year ago
2 mins read

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.

The price of Bitcoin (BTC) rose to $13,900 after declining to sub-$13,500 on the day. The catalyst behind BTC’s abrupt rally was likely the decline of the U.S. dollar, which fell after the election day.

As the dollar slipped, Bitcoin, stocks, and treasuries rallied together. The Dow Jones spiked by 2.24%, surging by nearly 6% in the past five days.

Albeit the strong momentum of Bitcoin, there are several worrying signs in the near term. The risks BTC faces in the short term include a high percentage of profitable addresses and a large resistance area.

bitcoin price

The hourly price chart of Bitcoin. Source: BTCUSD on TradingView.com

97.24% of Bitcoin Addresses are Currently in Profit

According to researchers at intotheblock, a cryptocurrency market data analysis firm, 97.24% of Bitcoin addresses are currently in profit. The researchers wrote:

“At the current price of $13,833.38, 97.24% of the addresses currently holding $BTC are profiting from their positions. Using ITB’s Historical In/Out of the Money indicator, we can observe a large shift in the number of addresses profiting when compared to the yearly low in March.”

When there is a high number of Bitcoin holders who are in profit, it leaves the market vulnerable to a take-profit pullback. Investors are more compelled to sell when they are sitting on profits, particularly during a bull market.

bitcoin

Profitable BTC addresses. Source: intotheblock

The confluence of the risk of a take-profit pullback and the $14,000 resistance level raises the probability of a near-term correction.

Bitcoin has continuously retested the $14,000 level since Oct. 31 but has struggled to break out of it. Traders say that BTC is unlikely to surpass such a major resistance area in its first few attempts.

The Weakening Dollar is a Positive For BTC

While there are some technical reasons to anticipate a Bitcoin pullback, the macro factors are positive for BTC.

Cantering Clark, a cryptocurrency trader, said the election of Joe Biden would likely result in a weaker dollar. For alternative stores of value, like Bitcoin and gold, a declining dollar is beneficial.

Since BTC is priced against the dollar, the election of Biden, at least in the short term, could positively affect BTC. Clark noted:

“So with Biden as President we have a weaker dollar, could bode well for $BTC, but there is good argument to be made for the stimulus (if we get one now) being weaker as well. $SPX not certain unless his presence fundamentally improves things on a mechanical level.”

Tweet123Share196ShareSend
Joseph Young
Joseph Young

Joseph Young

Joseph is a web developer and designer, writer and a passionate musician who loves to travel often. He's worked as a researcher for a number of venture capital firms and as a freelancer designer for resorts and corporations in Korea and the Philippines.

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.

Related News

crypto news

‘Real’ Crypto Bull Run Just Beginning, Says Analyst—Here’s Why

In a livestream broadcast on X, independent market technician Kevin, known online as @Kev_Capital_TA, argued that crypto markets are only...

Jake Simmons 2 hours ago

From Inflationary Noise to Deflationary Wave: FUNToken’s Turnaround Story

The crypto landscape is littered with tokens that promised deflation but delivered inflationary dilution. Yet FUNToken has quietly rewritten that...

News BTC 3 hours ago
ada, cardano koers, waarom stijgt cardano

ADA koers pumpt harder dan Bitcoin en Ethereum – waarom stijgt Cardano?

De Cardano koers lijkt recentelijk begonnen te zijn aan een opmars. De nummer 10 van de cryptomarkt was wist over...

Lars Diederiksen 4 hours ago
Load More

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.

Related News

TOKEN6900 iepriekšpārdošana piedzīvo strauju pieprasījuma pieaugumu, analītiķis to nosauc par labāko mēmu monētu, ko iegādāties

lasma 1 hour ago
Ethereum Back At Range Highs: Breakout Above $2,800 Could Ignite Altseason

Ethereum Back At Range Highs: Breakout Above $2,800 Could Ignite Altseason

Sebastian Villafuerte 1 hour ago

Bitcoin è Pronto a Esplodere? Un Analista Avverte: Liquidità in Esaurimento Mentre le Whale Prendono il Controllo

clararosati 2 hours ago

Premium Sponsors

Press Releases

  • [Profitable combination] ETHRANSACTION launches...

    1 hour ago
  • Bitget Annual Trading Competition KCGI Launches With $6...

    4 hours ago
  • Urmăriți în această săptămână memecoin-urile SOLAXY, BONK și POPCAT.

    Meme Của Elon Musk Đẩy $PNUT Tăng Vọt – Tác...

    4 hours ago
  • Shiba Inu & Dogecoin koers onder druk – nemen nieuwe meme coins het stokje over?

    Các Đồng Coin Tiềm Năng Nên Mua Khi Trump Media Ra...

    4 hours ago
  • Dự Đoán Giá Dogecoin, Pepe, SPX6900 Cuối Năm 2025...

    5 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

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.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.