- Bitcoin’s price has factored in an increase of 4.25% over the last 24 hours.
- The cryptocurrency’s daily trading volume has dipped by 14.11% as per CMC data.
As the crypto market enters the weekend slumber, Bitcoin has decided to stay upbeat. The cryptocurrency changed gears to alter its course in the bull run after the modest drop. In reflection, the overall market shows a 3.71% increase in market cap. Meanwhile, the crypto regulatory space has shown some activity in the past 24 hours.
Other altcoins, such as Ethereum and Solana, have also surged following Bitcoin’s bull run. The largest cryptocurrency has factored in a price increase of 4.25% over the past day. This has resulted in it once again testing the $91K level after several attempts to break it in previous cycles.
In the Asian morning hours of November 15, Bitcoin traded at a low of $87,350 as prices dipped on Friday. However, following this, the cryptocurrency made a quick recovery to current levels. Additionally, the digital asset hit an intra-day high of $91,709. At the time of writing, BTC was trading at $91,356 as per CMC data.
Meanwhile, several dormant BTC wallets have begun to show activity as the bull run accelerates. Recently, one particular Bitcoin miner who had remained inactive for nearly 14 years sold 2000 BTC in the past day as per Lookonchain reports. Additionally, several governmental institutions such as Pennsylvania have also expressed interest in Bitcoin reserves.
Will Bitcoin Stay Above the $90K Mark This Time?
Inferring Bitcoin’s price chart, reveals optimistic indications. For instance, the Chaikin Money Flow (CMF)’s value recedes at 0.28. This highlights the increased incoming money flow into the asset that can be observed in the market. Additionally, BTC’s bull power indicator value stands at 1.54 while its bear power indicator value stands at 0.46 below zero.
BTC/USDT Daily Price Chart (Source: TradingView)
These indicators suggest an existing positive environment in the market and thus indicate that Bitcoin could potentially maintain price stability above the $90,000 level. In such a case, the digital asset can face resistance at $92,026 as current prices suggest breaking resistance at $90,916.
Finally, adding to the positive note, the memecoin sector has also shown significant price surges. Top memes such as DOGE and PEPE have reached new trading levels.
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