Bitcoin’s price surged to nearly $90,000, marking its largest one-day gain since its creation, with an $8,400 rise recorded on November 11, 2024.
This spike followed its recent milestone of crossing $85,000, making it Bitcoin’s most impressive weekly performance since the March 2023 U.S. banking crisis.
today, november 11, 2024, was the biggest daily gain in #bitcoin history 🚀 pic.twitter.com/HaD8e9dec7
— Alex Thorn (@intangiblecoins) November 12, 2024
One significant driver of this growth has been the influx of capital into U.S. spot Bitcoin ETFs, which recorded inflows of $1.1 billion on November 11, just days after a previous $1.37 billion inflow on November 7.
These inflows have fueled demand and likely spurred increased institutional interest in Bitcoin. Alongside contributions from institutional players like MicroStrategy and Coinbase, daily trading volumes hit a new peak of $38 billion. Bitcoin’s accelerating momentum signals rising interest in digital assets and bolstered confidence in the crypto space.
Now, all eyes are on Bitcoin’s approach to the $90,000 mark, which could heighten market excitement and potentially pave the way for a $100,000 target by year-end.
A new analysis from crypto services firm Matrixport suggests that Bitcoin’s current rally is being powered by strong spot market interest rather than high-risk speculation, marking a shift toward more stable market dynamics.
A major crypto investor has made waves in the derivatives market, opening one of the largest long positions ever seen on a decentralized exchange.
Bitcoin has surged to a new record high, breaking past $109,000, after a significant bullish push.
Momentum is building across the digital asset space as Bitcoin edges closer to its previous peak near $109,000, igniting renewed speculation about whether a broader altcoin surge is about to follow.