Bitcoin rebounded this morning and briefly broke through $98,000 before dipping by 0.05%. Bitcoin(BTC) is currently trading at $97,903, and odds on BTC reaching $100,000 in November have also decreased in betting markets.
Current Bitcoin Price
The market cap for Bitcoin Price Prediction trends, and it might even reach a maximum value of $99,917, by the end of the year 2024.
When it comes to Bitcoin’s stature as the seventh most valuable asset market, BTC remains ahead of petroleum giant Saudi Aramco and could potentially overtake Alphabet (Google).
On the technical front, the 10-day Simple Moving Average (SMA) is $94,910, indicating a “Buy” action. Meanwhile, the Relative Strength Index (RSI) stands at 78, signaling a “Neutral” action and suggesting an overbought position, which may imply a potential correction in the future, even as the value shows a current retreat. In a nutshell, it’s a reflection of the bullish and strong BTC market. This sentiment is echoed by leading analysts like Bernstein, who predict Bitcoin could soar to $200,000 by the end of 2025.
With a net inflow of Bitcoin spot ETFs totaling $490.35 million ed on November 22, BTC has shown to be a source of constant interest for traditional investors. As a result, the Cboe exchange has announced the launch of its first cash-settled index options related to the price of spot Bitcoin beginning Monday, December 2, to track the performance of a basket of spot BTC ETFs listed in the U.S.
However, the subtle retreat in Bitcoin’s price has changed bettors’ outlook on BTC’s future. For instance, on Polymarket, bettors feel the probability of BTC reaching $100,000 in November is 63%, which is a sharp decline from previous odds at 94%, when BTC was around $99,000.
Meanwhile, on Kalshi, 54% believe that BTC will hit $100,000 before December, while 74% believe BTC will reach $100,000 before January.
