Bitcoin Hits New All Time High!

By Anthony • December 15, 2024 8:12 pm • Comments

Bitcoin has once again hit a new all-time high.

On Sunday evening, Bitcoin burst to a new all-time high and reached $106,554.

The previous all-time high was $104,000, which was reached shortly after President Trump was elected.

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In the last month, Bitcoin has increased by 16%.

Per Coin  Telegraph:

Bitcoin’s price rallied nearly 5% in a day to set a new all-time high above $106,000 on Dec. 15 as speculation of it becoming a United States reserve asset continues to grow.

Bitcoin topped out at $106,554 but has since fallen slightly to $106,000, TradingView data shows. Its previous high was $104,000, which was set on Dec. 5.

It is now up nearly 16% over the last month and over 55% since the US presidential election on Nov. 5.

Here’s what Investing reported:

Bitcoin surged to a record high on Sunday evening amid signs of increased whale trading, while crypto markets also cheered MicroStrategy’s addition to the Nasdaq 100.

The world’s biggest cryptocurrency jumped 3.9% to a record high of $105,120.9 by 18:27 ET (23:27 GMT).
On-chain data showed a flurry of major trades by large Bitcoin holders over the weekend. These holders, referred to as whales, were seen moving hundreds of millions of Bitcoin off exchanges and onto private wallets.

X account Whale Alert, which tracks major crypto transactions, showed at least 27,000 Bitcoins, worth a total of $2.8 billion, had been moved off major crypto exchanges such as Bybit and Binance over the weekend.

Such a move points to limited supply of Bitcoin on public exchanges, entailing a higher price for the crypto.

Bitcoin was also buoyed by optimism over MicroStrategy Incorporated (NASDAQ:MSTR)- the world’s biggest corporate holder of the crypto- being added to the Nasdaq 100 index. MicroStrategy- which is largely regarded as a proxy trade for Bitcoin- surged over 400% so far in 2024, with its valuation spike making it eligible for addition to the index.

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