On November 13, 2024, the Bitcoin (BTC) rate rose above $90,000 for the first time in history and set a new all-time high (ATH).
According to TradingViewat the time of writing, Bitcoin is trading at $90,856.
The last maximum of BTC was recorded at $89,919. Bitcoin also reached this mark today.
The capitalization of the flagship of the crypto market is currently $1.7 trillion. Daily trading volume exceeds $121 billion.
On a monthly basis, the price of Bitcoin increased by 38.3%. Over the past 24 hours, the figure jumped by 4.8%.
The current rally was triggered by several factors, including the re-election of Donald Trump as US President. The politician promises to turn the country into the “crypto capital of the world” and create a Bitcoin reserve. With such positive news, investors are increasingly confident in their bets on digital assets.
Another reason is another reduction in the key rate. During its last meeting, the US Federal Reserve (FRS) cut it by 25 basis points (bps). As a result, BTC updated its ATH above $76 thousand. Market participants expect the regulator to continue to decline.
The latest wave of growth was facilitated by the publication of data on the consumer price index (CPI) in the United States. Inflation remained at the same level, to which Bitcoin reacted positively.
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Source: Cryptocurrency
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