Bitcoin hit an all-time high of $81,800 in early trading in Asia on Monday, Nov. 11, according to CoinGecko.<\/p>\n
The move has culminated in a weekly gain of 18%, with the asset adding a whopping $14,000 since its Nov. 5 price of $67,500.<\/p>\n
Most of those gains have come in the wake of Donald Trump\u2019s landslide victory<\/a> in the US presidential election last week.<\/p>\n BTC even gained $5,000 over the weekend when traditional markets are closed, and crypto trading is usually quiet.\u00a0The latest pump means that Bitcoin has surged by 93% since the beginning of 2024 and a whopping 400% since its bear market low of $16,000 in November 2022.<\/p>\n On-chain analyst James Check said markets have now entered the \u201ceuphoria zone\u201d as Bitcoin is in new price discovery. \u201cThe 8 months of chopsolidation allowed investors to acclimate to higher prices, forming a firm foundation for launch,\u201d he added.<\/p>\n #Bitcoin<\/a> has entered the Euphoria zone, by convincingly breaking through the previous cycles ATH<\/p>\n However, it is doing so with a relatively cooled down MVRV Ratio<\/p>\n The 8-months of chopsolidation allowed investors to acclimate to higher prices, forming a firm foundation for launch pic.twitter.com\/Z2Rqc6tBgi<\/a><\/p>\n \u2014 _Checkmate (@_Checkmatey_) November 10, 2024<\/a><\/p>\n\n Blockworks co-founder Jason Yanowitz said<\/a>, \u201cEuphoria officially began on November 5th with the presidential election,\u201d adding that this was a \u201cbeautiful time.\u201d<\/p>\n \u201cEveryone is making money, but the grifters haven\u2019t rushed in yet. Take moments to really enjoy this time, as it will be brief.\u201d<\/p>\n Meanwhile, Chairman and CEO at Marathon Holdings, Fred Thiel, lamented<\/a> the German government\u2019s decision to sell BTC when it was around $53,000. He added that his company is hodling over 27,000 BTC, which is growing every day. \u201cThe BTC we purchased this year has appreciated very nicely thank you,\u201d he said.<\/p>\n With bitcoin peaking around $80K new ATH today, I wonder how the officials in Germany feel about having sold their nearly 50,000 bitcoin at around $53K per BTC in July \u2026 hmmmm\u2026that about a $1.3B difference.<\/p>\n Glad $MARA<\/a> is HODLing over 27,000 BTC and growing every day!! The\u2026<\/p>\n \u2014 Fred Thiel (@fgthiel) November 10, 2024<\/a><\/p>\n\n \u201cA strong bull market driven by spot and fundamentals can run on high leverage while seeing regular levered flushes,\u201d said economist Alex Kr\u00fcger on Nov. 11, who observed<\/a> \u201cabsurd levels\u201d of relentless Bitcoin spot buying from Coinbase.<\/p>\n Bitcoin\u2019s continued surge has pushed total crypto market capitalization to $2.92 trillion, its highest level since the November 2021 bull market peak when it topped $3 trillion briefly.<\/p>\n While many of the altcoins have surged, Bitcoin\u2019s market share still remains dominant at over 59%, according<\/a> to Tradingview. This means that altseason has yet to start despite double-digit gains<\/a> for many altcoins over the weekend.<\/p>\n Today\u2019s top performers are dominated by memecoins, including DOGE<\/a>, WIF, FLOKI, and SHIB<\/a>, all cranking more than 20% over the past 24 hours.<\/p>\n The post Bitcoin in \u2018Euphoria Zone\u2019 Hits ATH of $81,800 After $14,000 Weekly Gain<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Bitcoin hit an all-time high of $81,800 in early trading in Asia on Monday, Nov. 11, according to CoinGecko. The move has culminated in a weekly gain of 18%, with the asset adding a whopping $14,000 since its Nov. 5 price of $67,500. Most of those gains have come in the wake of Donald Trump\u2019s […]<\/p>\n","protected":false},"author":0,"featured_media":19424,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-19423","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/19423"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=19423"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/19423\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/19424"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=19423"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=19423"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=19423"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Investors and Analysts Euphoric<\/h2>\n
Total Cap Hits Cycle High<\/h2>\n