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Bitcoin ‘teleportation’ due as traders bet on BTC price passing $100K

Bitcoin surged on November 21 as a liquidity squeeze pushed its price toward the $100,000 mark, with BTC making a near-3% gain in a day.

Bitcoin gaps higher with sellers above $100,000

Bitcoin’s price action saw a sharp move towards $100,000, as traders anticipated large sell orders at this level. According to trader Skew, BTC/USD was less than $3,000 from hitting this historic milestone. “If large sellers are to make a stand, it’s here,” Skew commented, emphasizing the market dynamics around the six-figure price barrier. New ask liquidity appeared on exchange books above $100,000, confirming that the market was positioning itself for a move beyond this key price level.

Bitcoin’s rise to near $100,000 has been swift, gaining 38% in just three weeks. Charles Edwards, founder of Capriole Investments, noted that the psychological impact of Bitcoin exceeding $100,000 could trigger a FOMO-driven rally. “Teleportation occurs beyond $100K as the masses re-enter,” he said.

Support retest seen as a good sign

Despite the bullish momentum, some analysts are calling for a retest of lower support levels, particularly in the low $90,000 range. Material Indicators, a trading resource, highlighted a lack of buy-side liquidity below the $98,000 to $100,000 range. A dip to $91,000 could help confirm market strength, according to their analysis.

As Bitcoin moves closer to the $100,000 mark, traders are watching for any pullbacks that could provide further buying opportunities.

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$100K Bitcoin next? No euphoria ‘encouraging’ as BTC price breaks new highs

Bitcoin continues its surge toward the $100,000 mark after hitting a new all-time high above $94,000 on November 19. Despite this achievement, analysts are optimistic about further gains due to the lack of market euphoria.

Lack of crowd euphoria “encouraging sign” for BTC

Bitcoin ended a five-day period of choppy price movement on November 19, climbing 4% from a low of $90,407 to a new high of $94,002, according to Cointelegraph Markets Pro. However, the surge did not spark widespread excitement. Santiment noted a lack of enthusiasm across social media, with market commentary described as “lukewarm at best.” This disinterest is seen as a positive sign, as such behavior often precedes further price increases without the risk of a correction due to “FOMO” (fear of missing out). Google Trends data also shows that Bitcoin’s investor interest has declined in the past week, despite the record-breaking price.

$100,000 Bitcoin price “is coming” — Analyst

The prospect of Bitcoin reaching $100,000 remains a hot topic. Analysts, including Moustache, suggest that Bitcoin is entering a parabolic phase similar to the one seen in 2021. If this pattern continues, Bitcoin could rise significantly above $100,000. Michaël van de Poppe also predicts a price range of $100,000 to $120,000 within the next couple of months. QCP Capital notes that Bitcoin’s current price level above $90,000 supports a continued upward trajectory, with institutional confidence growing as evidenced by the success of BlackRock’s Bitcoin ETF. This institutional backing may help reduce volatility and boost Bitcoin’s mainstream adoption.

Bitcoin’s future looks strong

With continued institutional support and widespread accumulation, many experts believe Bitcoin’s price could far exceed $100,000. Analyst Bitcoin Munger highlighted a chart showing significant accumulation, indicating that Bitcoin may rise “way past” the $100,000 mark.

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BTC price all-time high above $94K comes amid Bitcoin sell-off warning

Bitcoin surged to a new all-time high above $94,000 on November 20, with traders buying up dips to maintain momentum.

Bitcoin breaks record highs but faces sell-off warning
Bitcoin’s price hit a fresh peak of $94,374 on Bitstamp, rallying from a low of $91,500. This bullish move came just before the U.S. trading session, as market participants showed increased buying interest. Trader Skew observed changing liquidity conditions and noted increased bids on both spot and perpetual markets. Fellow trader CrypNuevo suggested that Bitcoin might face resistance around the mid-$90,000 range, expecting a pullback near $96,000 before further consolidation.

Caution signs from long-term holders
CryptoQuant issued a warning about potential market top conditions, citing the “Coin Days Destroyed” metric. This metric tracks the reactivation of long-held Bitcoin, signaling that market tops are often preceded by dormant coins being moved. CryptoQuant suggested watching for a spike above 15-20 million Coin Days Destroyed, which could signal an impending price correction.

Bitcoin ETF options boost optimism
Despite the warnings, optimism remained strong as options trading began for BlackRock’s iShares Bitcoin Trust (IBIT) ETF. The first day saw significant activity, with predictions that Bitcoin could end the year above $100,000. Analyst Filbfilb suggested that the options launch would have a long-term impact on Bitcoin’s price, increasing institutional confidence and attracting new investors. QCP Capital also praised the launch, noting that it could reduce volatility and downside risk, strengthening Bitcoin’s position in mainstream markets.

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Five warning signs Bitcoin’s price could be about to crash: CryptoQuant

CryptoQuant has identified five key indicators to watch for signs that Bitcoin’s price may be nearing a peak. One of these indicators is already flashing red, according to their recent analysis.

MVRV Ratio
The MVRV ratio compares Bitcoin’s market value to its realized value. A score over 3.7 typically signals a market top. Currently, the ratio is at 2.67, suggesting that Bitcoin has not yet reached its peak. In the past, the MVRV ratio hit 7 during the February 2021 rally, when Bitcoin briefly reached $60,000.

Fear & Greed Index
The Fear & Greed Index tracks market sentiment, and a reading above 80 is considered a warning sign of a potential top. The index has been above 80 since November 12, peaking at 90 on November 17 and 19 — the highest levels since February 2021.

New Money Inflows
Bitcoin’s price can stagnate without significant new capital entering the market. The realized cap growth chart indicates that Bitcoin is still experiencing a healthy flow of new money, supporting the ongoing bull market.

Coin Days Destroyed
This indicator tracks the movement of long-dormant Bitcoin. A spike above 15-20 million could signal that long-term holders are selling, potentially leading to a price pullback. The current score is 15.1 million, suggesting some selling pressure may be building.

Inter-Exchange Flow Pulse (IFP)
The IFP tracks Bitcoin movements between exchanges. A rising IFP typically signals a bullish trend, as traders use Bitcoin as collateral. Currently, the IFP is at 730,000, and if it continues to rise, it could signal further bullish momentum.

Bitcoin has recently reached new highs, with its latest peak over $94,100 on November 19. While some analysts, like VanEck’s Matthew Sigel, believe Bitcoin could reach $180,000 next year, these warning signs suggest caution may be warranted in the short term.

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Why is XRP price down today?

XRP has dropped 6.55% in the last 24 hours, falling to $1.10 on Nov. 19, as part of a broader correction that began three days ago after it hit a three-year high of $1.26.

The decline follows a 149% rally in November, primarily fueled by the news of Donald Trump’s reelection. This surge pushed XRP’s relative strength index (RSI) above 70, signaling overbought conditions. When the RSI is overbought, buyers often become exhausted, prompting traders to take profits, leading to either sideways consolidation or a price decline.

Currently, XRP is consolidating within a triangle-shaped range, resembling a bull pennant. If the price breaks above the upper trendline, the target for December could be around $1.57, up about 40%. However, a drop below the lower trendline could invalidate the bullish pattern and push XRP toward its 50-4H exponential moving average, around $0.52, nearly 50% lower than current levels.

XRP’s correction also comes amid rumors of a meeting between Ripple Labs CEO Brad Garlinghouse and President-elect Trump. This has raised concerns in the crypto community, particularly over Ripple’s perceived pro-centralization stance and potential alignment with a central bank digital currency (CBDC) agenda. Critics like Ryan Selkis and Pierre Rochard warn that such developments could harm XRP’s reputation, especially if it is seen as promoting Bitcoin’s decline or cooperating with government policies.

This uncertainty has led to de-risking among XRP traders, with its market dominance continuing to decline.

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Bitcoin price dips 3% as liquidity hunt follows $4.6B MicroStrategy buy

Bitcoin saw a 3% dip on Nov. 18 as liquidity hunters targeted late longs, pushing BTC/USD below its previous weekly close. The drop came after news that business intelligence firm MicroStrategy had bought $4.6 billion worth of Bitcoin in the past week, with traders speculating that such announcements often lead to short-term sell-offs.

Bitcoin had previously hit a new all-time high near $93,500 on Nov. 13 before volatility set in, with intraday lows dropping below $87,000. Despite the dip, many traders, including Josh Rager, argued that Bitcoin remained healthy after a 40% rise within just over a week, encouraging altcoins and memecoins to find their price discovery.

Others, such as Michaël van de Poppe, saw potential for a deeper retracement, with targets around $70,000 for those looking to “buy the dip.”

As BTC dipped below $90,000, short positions increased, leading to about $35 million in long liquidations within 24 hours, according to CoinGlass. Popular trader Skew noted that Bitcoin had filled its latest futures market gap, hinting at potential for further volatility.

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Spot Bitcoin ETFs hit $1.7B weekly inflows, marking six-week streak

Spot Bitcoin exchange-traded funds (ETFs) continue to perform strongly, posting $1.67 billion in net inflows for the week of Nov. 11–15. This marks six consecutive weeks of positive flows, according to SoSoValue data. BlackRock’s iShares Bitcoin Trust (IBIT) leads the market with $29.3 billion in cumulative inflows, while Grayscale Bitcoin Trust has seen $20.3 billion in outflows since spot BTC ETFs began in January.

In addition to Bitcoin ETFs, spot Ether (ETH) ETFs also saw growth, recording $515 million in weekly inflows, extending a three-week streak of positive flows. Over the past three weeks, Ether ETFs have attracted $682 million in net inflows.

Since October 11, spot Bitcoin ETFs have brought in a total of $8.95 billion, increasing their assets under management to $95.4 billion, or 5.27% of Bitcoin’s $1.8 trillion market cap. This influx comes as Bitcoin surged past $90,000 for the first time on Nov. 12 and hit a new all-time high of $92,400 on Nov. 13.

Billionaire investor Paul Tudor Jones is among the prominent figures increasing exposure to Bitcoin ETFs, adding $130 million worth of IBIT shares in Q3. His holdings now total nearly $160 million, making him the ninth-largest holder of IBIT. Other major holders, including Goldman Sachs, also raised their Bitcoin ETF positions in Q3, with Goldman increasing theirs by 71% to $710 million.

In total, global inflows into crypto exchange-traded products amounted to $2.2 billion last week, according to CoinShares. However, after Bitcoin’s all-time highs, there was an $866 million outflow following $3 billion in inflows.

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BTC price weekly close nears $90K —Things to know in Bitcoin this week

Bitcoin’s price is showing strong momentum as it heads towards $100,000. After a minor dip, BTC/USD is holding above $90,000, up 30% month-to-date. Analysts note that Bitcoin has been supported by the usual weekly open bid, with key levels to watch being $90,000 and $91,300. Popular traders like Skew and CrypNuevo expect potential spikes toward $95,000 to $96,000, while cautioning that large-volume traders might drive price fluctuations around the $100,000 psychological barrier.

For those expecting a dip, trader Crypto Chase suggests buying at “gaps” between daily candles, with the $83,000–$85,000 range offering good entry points if the market pulls back.

Bitcoin’s weekly close has been historic, with BTC/USD hitting its highest-ever weekly close under $90,000. According to CoinGlass, Bitcoin gained 11.8% last week, pushing its Q4 returns over 40%. Many traders anticipate continued bullish momentum, with Bitcoin’s parabolic phase just beginning. Skew forecasts multiple new record weekly closes, with BTC attempting to fill the wick that led to its all-time high of $93,500.

The U.S. Federal Reserve faces a challenging environment as inflation rises, creating concerns about stagflation—rising prices alongside rising unemployment. This has sparked uncertainty about future interest rate cuts, with the CME FedWatch Tool indicating a 35% chance of a rate cut pause in December. Macro events such as tech earnings, including Nvidia, and unemployment data on November 21 could add to market volatility.

Bitcoin whales and institutional investors continue to accumulate, fueling the bull case. Data from CryptoQuant shows significant growth in Bitcoin spot ETF holdings, from 629.9K BTC in January to over 1 million BTC now. This accumulation correlates with price increases, suggesting more upward price movement as supply tightens.

However, social media “FOMO” signals a potential warning. Research from Santiment shows that hype around Bitcoin’s price often peaks alongside its price runs. With the Crypto Fear & Greed Index hitting “extreme greed” levels, caution is advised as the market could reverse if speculative mania grows too strong.

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Bitcoin long-term holders do not see $90K ‘as an enemy’ — Analyst

Bitcoin long-term holders (LTH), those who have held their coins for over 155 days, are not waiting for Bitcoin to reach six figures before taking profits. According to a report from CryptoQuant on November 16, many of these investors have already viewed the $90,000 mark as a profit-taking zone. Before Bitcoin surpassed its previous all-time high of $73,800 on November 5, the price had consolidated between $53,000 and $72,000 for nearly seven months.

Bitcoin reached $90,000 for the first time on November 12 and set a new high of $93,215 on November 13. Percival, the analyst behind the report, noted that long-term holders have been increasingly selling into this price movement. “For many of these investors, $90K is a target,” he explained, adding that the sell-side pressure has risen since the approval of Bitcoin ETFs.

The surge in selling has not significantly impacted Bitcoin’s price because ETFs are absorbing the coins being sold. Percival described the sell-off as “superficial,” driven by profit-taking rather than market panic.

Despite this, Bitcoin supporters remain hopeful that the cryptocurrency will reach six figures soon. MicroStrategy’s Michael Saylor stated he would be “surprised” if Bitcoin didn’t surpass $100,000 by December. Ryan Lee, chief analyst at Bitget Research, also predicted that Bitcoin could hit $100,000 by the end of November, citing historical trends that show strong returns for Bitcoin in the month.

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Bitcoin will not fall to $60K with no ‘threats in the near-term’ — Michael Saylor

MicroStrategy founder Michael Saylor is confident that Bitcoin will not drop to $60,000, a key level for much of 2024. Speaking to CNBC on November 14, Saylor emphasized that he believes Bitcoin will continue to rise, dismissing the possibility of a significant retracement. At the time, Bitcoin was trading around $87,790.

Saylor also discussed the future of Bitcoin under a potential Trump administration, stating that Trump’s victory had solidified the future of crypto in the U.S. He expressed optimism, claiming that there are no immediate threats to Bitcoin’s upward trajectory. Saylor expects Bitcoin to surpass $100,000 before 2025, predicting it could reach that milestone in November or December. “I’m planning the $100,000 party,” he said, envisioning the celebration around New Year’s Eve.

Supporting Saylor’s view, Keith Alan, co-founder of Material Indicators, also sees Bitcoin reaching $100,000 by November 28 or Thanksgiving. However, not all analysts share this optimism. CryptoQuant CEO Ki Young Ju warned that Bitcoin might end the year under $59,000, citing an overheated futures market as a factor contributing to a potential year-end downturn.

Despite potential volatility, many traders remain positive about Bitcoin’s long-term prospects. Trader Ash Crypto predicted that while Bitcoin might experience more liquidations, the overall trend will be upward, making new highs. Financial analyst Rajat Soni echoed this sentiment, stating that he doesn’t worry about short-term price fluctuations, as he believes every Bitcoin purchase will appreciate over time.

Saylor also weighed in on the speculation surrounding SEC Chair Gary Gensler’s future under a Trump administration. He sees this as a positive development for the crypto industry, suggesting that pro-Bitcoin policies and a clearer digital assets framework would follow.

At the Cantor Crypto, Digital Assets & AI Infrastructure Conference on November 13, Saylor spoke about the U.S. Strategic Bitcoin Reserve Bill, which proposes the U.S. government accumulate 1 million Bitcoin over five years. He called the bill the “greatest deal of the 21st century,” arguing that if passed, it would bring significant economic benefits, potentially worth up to $30 trillion if fully implemented. However, Galaxy Digital’s Mike Novogratz expressed skepticism, stating there is a low probability that Trump will follow through on this plan.

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