Bitcoin (BTC), the largest cryptocurrency by market capitalization, has experienced a remarkable uptrend over the past three weeks, inching close to the elusive $100,000 mark.
This follows Donald Trump’s victory in the presidential election over Democratic Party candidate Kamala Harris, which boosted investor confidence in a new era for the broader industry.
This has led to increased adoption of the leading crypto, with major corporations worldwide adopting it as a strategic reserve asset. In addition, inflows into exchange-traded funds (ETFs) have increased, further contributing to the bull run.
However, after its recent 7% correction, the Bitcoin price fell to around $91,000. Then it regained the $96,000 mark, raising questions about its ability to break through the psychological $100,000 barrier before the end of the year.
Critical Support At $92,700
The peak price of $99,540 achieved last week has left investors wondering whether Bitcoin can sustain its momentum or
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